The Board of Directors of IQGHB wishes to announce that the Company has expressed its intention to strike off its dormant wholly-owned subsidiary , IQ Industries Limited (“IQI") from the register of the BVI Business Companies Act 2004 of the British Virgin Islands.

IQI was incorporated on 28 July 2006 under the BVI Business Companies Act 2004 in British Virgin Islands. IQI has an authorised nominal capital of USD50,000 comprising 50,000 ordinary shares of USD1 each, of which 1,000 ordinary shares of USD1 each have been issued and fully paid-up.  IQI has ceased to carry on business since 1 April 2021 and has no intention to carry on the business or operations in the future.

The striking off of IQI is not expected to have any significant operational impact on IQGHB Group for the financial year ending 31 March 2023. However, there will be a financial  gain of approximately RM1.92 million  expected to arise from the striking off.

None of the Directors or major shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the striking off.

This announcement is dated 28 April 2022.