Aemulus Holdings Bhd announced that its wholly-owned subsidiary Aemulus Corporation Sdn. Bhd (ACSB) had on 11 April 2022, entered into a Capital Injection Agreement with Tangren Tangren Microtelligence Technology (Jiashan) Co., Ltd. (“Tangren”) and Tangming Shengshi Technology (Jiashan) Co., Ltd (TMSS) . to increase the registered capital of TMSS (a 40% owned company by ACSB) of Renminbi 25 Million (RMB 25,000,000).
The proportion of capital contribution will be allotted to Tangren and ACSB on a pro-rata basis. Upon completion of the Capital Injection, ACSB will remain its shareholding of 40% in TMSS
Tangren and ACSB shall contribute to the capital of TMSS in cash as follows:; Tangren 15Million RMB and ACSB 10,000,000 RMB Total 25,000,000.
In a Bursa Filing, it said that upon completion of the Capital Injection, the shareholding structure shall be as follows: Tangren 25,000,000 60% ACSB 16,666,700 (40%)
The Parties agree to inject capital to increase the registered capital of TMSS amounting to Renminbi 25 Million (RMB 25,000,000).
The rationale of the Capital Injection is to fund the working capital requirements of TMSS to rapidly grow its presence in the China market. TMSS expects to use the additional working capital to, among others, expand its production lines, hire additional headcounts to spearhead the operations, and purchase production equipment.
