The Board of Directors of Jaya Tiasa Holdings Berhad (the "Company") is pleased to announce that the Company has acquired a shelf company known as Palmiles Sdn Bhd (Company No. 490274-A) ("Palmiles") with two (2) ordinary shares of RM1.00 each, fully paid up for a total cash consideration of RM2,300.00. Palmiles was incorporated in Malaysia with an authorised share capital of RM100,000.00 divided into 100,000 ordinary shares of RM1.00 each.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above acquisition.