[Disclosure] Disaffiliation of Subsidiary/Associate from Holding Company (Unofficial Translation)
Disclosure Details
| Company Name | PICASSO CITY GARDEN DEVELOPMENT PLC (PCG) | |
|---|---|---|
| Date | 15 September 2026 | |
| Location | Picasso City Garden Building, 19-1th Floor, Street 322, Village 7, Sangkat Boeung Keng Kang 1, Khan Boeung Keng Kang, Phnom Penh City. | |
| Main Business | Real Estate (Housing Development) | |
| Main Shareholder | 1. TITAN STONE CAPITAL (ASIA) LIMITED 2. Mr. TENG CHENG YUEH 3. Mrs. WEA CHEN, CHUEN-MEI 4. Mrs. YUAN, SHU-CHEN 5. Mr. YEH, WEI-KUO 6. Mr. WEA, HUEI-FU 7. Mr. LIN, TING-CHUN 8. Mr. HSU, CHIA-CHIEH 9. Mrs. PENG PIN-CHUN | |
| Total Assets | USD 28,620,835 | |
| Total Liability | USD 20,677,946 | |
| Total Shareholder’s Equity | USD 7,942,889 | |
| Revenue | USD 260,000 | |
| Operating Profits | USD (138,363) | |
| Net Profit/ Loss | USD (381,804) | |
| Holding Percentage in Subsidiary/ Associate - Before Event | 27.76% | |
| Holding Percentage in Subsidiary/ Associate - After Event | 0% | |
| 2. Detail of Subsidiary / Associate | 2. Detail of Subsidiary / Associate | |
| Name of Company | Titan Stone Life Insurance Plc. | |
| Location | KY iCenter Building, 28th Floor, Room No. 2807 and 28D-N of Building No. 41, Street 360, Group 47, Village 7, Sangkat Tuol Svay Prey 1, Khan Boeng Keng Kang, Phnom Penh. | |
| Main Business | Life Insurance Service | |
| Major Shareholders | 1. Mr. LIN, CHIH-CHENG 2. TITAN STONE CAPITAL (ASIA) LIMITED 3. PICASSO CITY GARDEN DEVELOPMENT PLC. 4. Mr. KET RADY | |
| Total Assets | USD 4,593,065 | |
| Total Liability | USD 876,791 | |
| Total Equity | USD 3,716,274 | |
| Total Revenue | USD 4,944 | |
| Operational Profit | USD (211,967) | |
| Net Profit/ Loss | USD (211,926) | |
| 3. Description | Picasso City Garden Development Plc. (“PCG”) hereby informs that Titan Stone Life Insurance Plc, an associate of PCG, has proceeded its voluntary liquidation in accordance with applicable laws and regulations. Accordingly, Titan Stone Life Insurance Plc is no longer an associate or related party of PCG. The financial information of PCG is disclosed in its Second Quarter 2026 Financial Report. The corresponding financial information of Titan Stone Life Insurance Plc is disclosed in its unaudited financial statements for the period ended 30 June 2026. | |
| 4. Reason | To disclose the completion of Titan Stone Life Insurance Plc’s voluntary liquidation and the cessation of its related party relationship with PCG. | |
| 5. Date of Resolution | 2026-09-14 |
Attachments
Source: Cambodia Securities Exchange (CSX) — csx.com.kh