Sinaran Advance Group Berhad (Malaysia)

The Company is a special purpose vehicle to facilitate the implementation of the Proposed Internal Reorganisation. On 30 June 2020, M&A Securities had, on behalf of the company Board, announced that K-Star entered into the Scheme Agreement with Sinaran Advance Group (SAG) to undertake the Internal Reorganisation, which is comprise the following :
(i) exchange of :
- all existing K-Star Shares with the new SAG Shares on a one-for-one basis;
- all oustanding K-Star Warrants with new SAG Warrants on a one-for-one basis as at Entitlement Date,
- transfer of K-Star's listing status of SAG, followed by admission of SAG to and withdrawal of K-Star from the Official List of Bursa Securities and the listing of and quotation for the new SAG Shares and SAG Warrants on the Main Market of Bursa Securities; and
- transfer of K-Star's entire shareholdings in its subsidiary to SAG. Following the Securities Exchange, all of K-Star's shareholdings in Sinaran Trilion Sdn Bhd will be transferred to SAG.
Upon completion of the Shares Exchange, K-Star will undertake the Transfer of Listing whereby K-Star and the K-Star Shares will be withdrawn from the Official List of Bursa Securities and SAG will be admitted to the Official List of Bursa Securities in place of K-Star. Upon listing on the Main Market of Bursa Securities, the SAG Shares will assume the existing stock code of K-Star which is '5172' and a new short name of 'SINARAN'.
At 14 July 2020, the Company has changed its name from Bluesky Capital Sdn. Bhd. to Sinaran Advance Group Sdn. Bhd. At 9 September 2020, the Company has converted its company status from private company (Sinaran Advance Group Sdn. Bhd.) to public company (Sinaran Advance Group Berhad).