BKyoto, a private limited company, was incorporated in Singapore under the Companies Act on 25 May 2010 with an issued and paid-up share capital of SGD1.00 comprising one (1) ordinary share of SGD 1.00 each. The principal activity of BKyoto is investment holding whilst its 100%-owned subsidiary, namely Berjaya Kyoto Development Company Limited (“BKDJ”), incorporated in Japan, is intended to be principally involved in real estate development activities. BKDJ has an issued and paid up share capital of JPY1.50 million (or about RM55,890) comprising 30 ordinary shares of JPY50,000 each. B-Kyoto will be B-Land’s investment arm in Japan.
This Acquisition has no effect on the issued and paid-up share capital of BLand as well as the major shareholders’ shareholdings in B-Land. It also has no material effect on the consolidated earnings and net assets of B-Land Group for the current financial year ending 30 April 2011.
None of the Directors, major shareholders and persons connected with a Director or major shareholder of B-Land has any interest, directly or indirectly, in the Acquisition.
Apparently BLand's Board of Directors are of the opinion that this acquisition is in the best interest of B-Land Group.I do hope they are right.
It looks like BLand must have some projects brewing in Japan to suddenly want to take interest in this company.
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