OCK's Unit Establishes Subsidiary In Myanmar

KUALA LUMPUR, Nov 18 (Bernama) -- OCK Group Bhd's (OCK) wholly-owned unit, OCK International Sdn Bhd completed the establishment of a new subsidiary, Well Synergy Resources Pvt Ltd in Myanmar Thursday. In a filing to Bursa Malaysia (Malaysia's Stock Exchange), OCK said Well Synergy was established as the subsidiary of OCK International with a registered capital of US$300,000 (US$1=RM4.39) divided into 3,000 shares of US$100 each. "Of that, 2,999 shares are held by OCK International and one share is held by Group Chief Operating Officer and Executive Director Low Hock Keong," it said. OCK said the principal activities of Well Synergy were engineering services, rental business, market research and management services. "The incorporation of the new subsidiary is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending Dec 31, 2016," it added. -- BERNAMA