Group Restructuring Exercise + Change of Principal Activities & Name of Subsidary
The Board of Directors (“Board”) of Regal International Group Ltd. (“Company”, and together with its subsidiaries, “Group”) wishes to announce the following:
(A) GROUP RESTRUCTURING EXERCISE
Regal International Investments Pte. Ltd., a wholly-owned subsidiary of the Company, had on 6 April 2018 transferred its 24% equity interest in Regal Asset Management Pte. Ltd. (“RAM”) to Mr. Cheong Cheow Tuck at a consideration of S$1.00 (“Restructuring Exercise”).
The Restructuring Exercise is part of the Group’s corporate strategy to streamline existing operations and pursue business expansion through complementary collaborations.
(B) CHANGE OF PRINCIPAL ACTIVITIES AND NAME OF SUBSIDIARY
Pursuant to Restructuring Exercise within the Group, the Company’s indirect 51%-owned subsidiary, RAM changed its name to Regal Universe Builders Pte. Ltd. and its principal activities have changed from asset management to wholesale and distribution of office furniture.
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Regal International Group Ltd. (簡稱“公司”及旗下所有子公司統稱“集團”) 的董事會 (簡稱 “董事會”) 僅此宣佈以下事宜：
(A) 集團重組計劃
公司之全資子公司Regal International Investments Pte. Ltd. 耀傑國際投資私人有限公司已於2018年4月6日將其於Regal Asset Management Pte. Ltd. 耀傑資產管理私人有限公司 (簡稱“RAM”) 的24%股權以S$1.00轉讓於Cheong Cheow Tuck 張秋德先生 (簡稱 “重組計劃”) 。
重組計劃爲集團企業戰略的一部分，旨在簡化現有業務並通過互補性合作拓展現有業務。
(B) 變更主要業務及子公司名稱
集團内部實行重組計劃後，公司間接擁有51%股權之子公司RAM 將更名爲Regal Universe Builders Pte. Ltd. ，其主要業務亦自資產管理變更至辦公家具的批發與分銷。
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