SinChew incorporates investment holding unit in New York

By Cindy Yeap of thedgemalaysia.com | The Edge Malaysia – Wed, Sep 12, 2012

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KUALA LUMPUR (Sept 12): Media Chinese International Ltd (MCIL)’s indirect wholly-owned unit Sinchew-I Sdn Bhd incorporated a new investment holding unit in New York recently.

In a statement yesterday, the company said Sinchew (USA) Inc was incorporated on August 31 this year with an issued and paid-up capital of US$200.

The incorporation of the new unit is not expected to materially affect its earnings and net assets for the current financial year.

MCIL added 2 sen or 1.3% to RM1.56 with 196,800 shares.

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