KUALA LUMPUR (March 13): MTAG Group Bhd has incorporated a new subsidiary named MTAG Land Sdn Bhd (MLSB) yesterday.

In a bourse filing today, the company said the subsidiary will undertake property and investment holdings, besides manufacturing industrial products.

The directors of MLSB are Chaw Kam Shiang and Lau Cher Liang.

“The incorporation will not have any material effect on the earnings per share, net assets per share and gearing of the MTAG Group for the financial year ending June 30 2020,” it said.

At the midday break, MTAG shares fell four sen or 12.12% to 29 sen, giving it a market capitalisation of RM194.26 million.

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