The Board of Directors of Harbour-Link Group Berhad (“Harbour-Link” or “the Company”) wishes to announce that Harbour-Link Navigation Sdn. Bhd., a wholly-owned subsidiary of Harbour-Link, has on 7 March 2024 incorporated a 85% owned subsidiary, namely, Harbour Adventure Sdn. Bhd. (Registration No. 202401009359 (1555209-U))("HASB") ("Incorporation").

The issued share capital of HASB is RM100.00 comprising 100 ordinary shares for which 85% is owned by Harbour-Link Navigation Sdn. Bhd. and the remaining 15% is held by Megan Millenium Sdn. Bhd. 

The intended business activity of HASB is ship owning and provision of ship management services.

The incorporation of HASB will not have any material effects on Harbour-Link Group’s earnings per share, net assets per share, gearing, share capital and substantial shareholders' shareholdings for the financial year ending 30 June 2024.

Save for Dato Yong Piaw Soon who has indirect interest of 17.78% and Wong Siong Seh who has direct interest of 11.85% in Megan Millenium Sdn Bhd, none of the Directors and/or major shareholders of Harbour-Link and/or persons connected with them have any interest, direct or indirect, in the incorporation of HASB.

The Board of Directors of Harbour-Link is of the opinion that the Incorporation is in the best interest of the Company.

This announcement is dated 8 March 2024.