SUPERMAX INCORPORATES WHOLLY-OWNED SUBSIDIARY IN US
KUALA LUMPUR, Dec 21-- Supermax Corporation Bhd has incorporated a wholly-owned subsidiary in the United States known as Maxter Healthcare Incorporated on Dec 18, 2020.
In a filing with Bursa Malaysia today, Supermax said Maxter Healthcare, which has an issued and paid-up share capital of US$1 and which will subsequently be increased to US$100 million (US$1=RM4.04), is principally involved with the manufacturing of Made in USA medical gloves, other personal protective equipment and building a national headquarters in the US.
It said the proposed capital investment will be financed through a combination of internally generated funds and bank borrowings, the ratio of which will be decided at a later date.
"The incorporation of Maxter Healthcare will not have any effect on the share capital and substantial shareholders’ shareholding of Supermax, nor on the net assets, gearing and earnings of Supermax for the financial year ending June 30, 2021," it said.
-- BERNAMA
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