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Kingsmen Creatives assumes full ownership of Kingsmen Taiwan
KINGSMEN Creatives has turned Kingsmen Taiwan International into a wholly-owned subsidiary by acquiring all of the shares it didn't own for NT$1,051,460 (S$47,400).
The purchase raises its stake in Kingsmen Taiwan, which has an issued and paid-up share capital of NT$7 million, from 93 per cent to 100 per cent.
The purchase price was arrived at on a willing-buyer willing-seller basis, taking into consideration the book value and net tangible asset value of Kingsmen Taiwan as at Sept 30, which were both NT$15,020,862.
Kingsmen shares rose 1.5 Singapore cents or 3.49 per cent to S$0.445 on Thursday.
Kingsmen Creatives is a builder of exhibition displays for trade shows and theme parks and provider of design works and fit-out services for stores and museums.