Announcement Details/Table Section :
Introduction
The Board of Directors of JRB wishes to announce that the Company has on 20th December 2013 acquired two shelf companies, Harbour Front Development Sdn Bhd ("HFD") and Premier Place Property Sdn Bhd ("PPP"), both incorporated in Malaysia at a consideration of RM2.00 each (the "Investment").
HFD and PPP, both incorporated on 19 December 2013, have each authorized capital of RM400,000.00 and issued and paid-up capital of RM2.00 and will be wholly-owned subsidiaries of JRB.
Rationale
The Investment is to facilitate the Company's venture into new investments in property development.
Effects of the Investment
The Investment will not have any effect on the earnings per share, net assets per share or gearing of the JRB Group for the financial year ending 31 December 2013. There will also be no changes to the share capital and substantial shareholders' shareholding of JRB.
Directors/Major Shareholders' interest
None of the directors and major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, in the Investment:
Statement by Directors
The Directors of JRB are of the opinion that the Investment is in the best interest of the JRB Group.
JAKS RESOURCES 
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