The Board of Directors
of Sinwa KS Limited
("the Company") wishes
to announce that its
wholly-owned subsidiary,
Sinwa Ship Supply
Private Limited, has
incorporated a
wholly-owned subsidiary,
Sinwa SS (HK) Co.
Limited ("Sinwa HK") in
Hong Kong.
The authorised capital
of Sinwa HK is HKD
10,000/- comprising
10,000 ordinary shares
of HKD 1/- each and its
issued and paid-up
capital is HKD 10,000/-
divided into 10,000
ordinary shares of HKD
1/- each. The principal
activities of Sinwa HK
is marine supply and
logistics. The purpose
of incorporating Sinwa
HK is to provide port
facilities management
services to its global
customers who are
currently being serviced
through mutual
cooperation partners in
China as well as to
ensure better control of
the standard and quality
of its services.
The investment by the
Company is not expected
to have any material
effect on the earnings
per share or net
tangible assets per
share of the Group for
the year ending 31
December 2003.
No director or
substantial shareholder
of the Company has an
interest, direct or
indirect, in the
investment.
By order of the Board
