TRC

0.465

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OTHERS TRC SYNERGY BERHAD (TRCS OR THE COMPANY) CESSATION OF OPERATION AND CANCELLATION OF BUSINESS REGISTRATION OF A DORMANT SUBSIDIARY

TRC SYNERGY BERHAD

Type Announcement
Subject OTHERS
Description
TRC SYNERGY BERHAD (TRCS OR THE COMPANY)
CESSATION OF OPERATION AND CANCELLATION OF BUSINESS REGISTRATION OF A DORMANT SUBSIDIARY

INTRODUCTION

 

The Board of Directors of the Company wishes to announce that Swan Synergy Development Pty. Ltd. (Australian Company Number : 151511018) (“SSD”) has ceased its business operation and cancelled its Business Registration with effect from 1st February 2021. The Notice of Cancellation of Business Registration from the Australian Business Register dated 23rd February 2021 was received by the Company on 3rd March 2021.

 

 

INFORMATION ON SSD

 

SSD was incorporated under the Australian Corporations Act 2001. It is a wholly-owned subsidiary of TRC (Aust) Pty. Ltd., a wholly-owned subsidiary of the Company with 600 units of paid-up share capital of AUD1.00 each.

 

 

RATIONALE OF THE CESSATION OF OPERATION AND CANCELLATION OF BUSINESS REGISTRATION

 

SSD was incorporated purposely to undertake the hotel construction owned by TRC (Aust) Pty. Ltd.. The construction of the hotel was duly completed in June 2019 and since then SSD has no other business activities. The cessation of its operation will reduce the administrative resources and maintenance cost.

 

 

FINANCIAL EFFECT

 

The cessation of business operation of SSD and the cancellation of its business registration will have no material effect on the earning and net assets per share of the Company for the financial year ending 31st December 2021.

 

This announcement is dated 3rd March 2021.






Announcement Info

Company Name TRC SYNERGY BERHAD
Stock Name TRC
Date Announced 03 Mar 2021
Category General Announcement for PLC
Reference Number GA1-03032021-00067