3 February, 2016
Wong & Partners advised Sistem Televisyen Malaysia Berhad (“STMB”) in connection with its joint venture with CJ O Shopping Co., Ltd ("CJ O") to establish a joint venture company ("JV Co") for purposes of a home shopping business. STMB is a wholly-owned subsidiary of Media Prima Berhad, Malaysia’s leading fully-integrated media investment company. The JV CO shall have an eventual issued and paid-up capital of RM65 million divided into 65 million ordinary shares of RM1.00 each. The shareholding structure of the JV CO shall be held by STMB and CJ O in the ratio of 51% and 49% respectively. The total capitalisation of the JV CO will be RM65 million (to be contributed by STMB and CJ O in the proportion of the shareholding ratio of 51:49 respectively) in several tranches.
