News Release : 2012
Equity Investment in Tatt Giap Steel Center BHD(TGSC)
Hanwa signed a contract with Tatt Giap Group on November 9, 2012 that we will acquire 15% of Tatt Giap Steel Center BHD’ shares which is 100% owned by them.
The company profile of TGSC and details of our investment are as follows.
Profile of TGSC
|Address||Plot 33, Jalan Perusahaan Bukit Minyak, Bukit Minyak Industrial Park, 14000 Bukit Mertajam, Penang, Malaysia|
|Capital||RM 40million(approx J.yen 1,028million)|
|Business||Steel processing center|
|Processing capacity||10,000tons per month|
|Turnover||RM206.01million (approx J.Yen5,294million)|
|Profit after tax||RM15.31million(approx J.Yen393million)|
|Ratio||15% of TGSC’ issued shares|
|Amount of investment||RM6million|
Ratio of ownership
|Tatt Giap Group BHD||
|CSC Steel Holdings BHD||20％|
|CSGT Inbernational Corp||14％|
Purpose of investment
Aiming at auto/electric appliances/electronics industries in Malaysia to sell Japanese steels and products produced by Nippon EGalv Steel.