Catalist-listed Arion Entertainment Singapore announced on May 14 that it has acquired shelf company Fame Harvest Limited, as part of its diversification into Hong Kong.
Arion Entertainment acquired Fame Harvest for a cash consideration of HK$2,600 ($446.47) from a third-party service provider. “The consideration is the quote provided by the third-party service provider and the Company has taken into consideration the costs of incorporating a company in Hong Kong using a third-party service provider,” read the announcement on the Singapore Exchange (SGX).
According to the announcement, Fame Harvest was incorporated as an investment holding company in Hong Kong on April 23. The issued and paid-up capital is HK$1.00 comprising one ordinary share.