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08026 CB GLOBAL
RTNominal down0.740 -0.020 (-2.632%)
Others

08/10/2019 16:00

CB Global (08026) to set up JV for banking business

[ET Net News Agency, 8 October 2019] China Brilliant Global Limited (08026) said the
company has entered into a non-binding memorandum of understanding (the MOU) with an
independent third party (the JV partner) in relation to the formation of a joint venture.
The JV will engage in banking business in Kazakhstan which is expected to commence in
mid-2020.
Pursuant to the MOU, the company, through its wholly-owned subsidiary will hold 56% of
the JV. The company's contribution to the JV will be in the form of cash and the JV
partner will contribute to the JV by transferring its legal and beneficial interest in a
corporation which has been granted a Commercial License issued by the Astana International
Financial Centre, together with its existing management and operation platform. (RC)

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