KUALA LUMPUR (Nov 14): Kian Joo Can Factory Bhd has incorporated a new wholly-owned subsidiary, KJ Togo (M) Sdn Bhd (KJTGM), via its Singapore subordinate KJ Togo Pte Ltd.

In its filing to Bursa Malaysia today, Kian Joo said KJTGM, whose principal activities include the manufacture and distribution of aluminium cans and bottles, has an authorised share capital of RM400,000.

“The incorporation of KJTGM does not have any material effect on the issued and paid-up share capital of the company nor the shareholdings of [its] substantial shareholders,” the group said.

“It is also not expected to have any material effect on the net assets and earnings per share of the company as well as its gearing for the financial year ending Dec 31, 2016,” it added.

Kian Joo shares traded unchanged to close at RM2.81 today, giving it a market capitalisation of RM1.25 billion.