1.   INTRODUCTION

The Company wishes to announce that MUI Property Services Sdn Bhd, a wholly-owned subsidiary of MUIP, has at its Extraordinary General Meeting held on 19 September 2022, obtained approval from the sole shareholder to commence members’ voluntary winding-up pursuant to Section 439(1) (b) of Companies Act, 2016.

Mr Chong Mun Yew of Messrs Crowe KL Tax Sdn Bhd has been appointed as the Liquidator for the above Winding-Up.

2. DETAILS OF SUBSIDIARY UNDER WINDING-UP

3. RATIONALE FOR THE WINDING-UP

The winding-up of the subsidiary is part of the MUIP Group’s continuing rationalisation effort to simplify the structure of the MUIP Group. In addition, the winding-up will enable the MUIP Group to save future costs associated with maintaining this subsidiary.

4. EFFECTS OF THE  WINDING-UP

The winding-up will not have any material financial or operational effect on the MUIP Group for the current financial year ending 30 June 2023.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors, major shareholders and persons connected with the Directors and major shareholders of MUIP have any interest, direct or indirect, in the winding-up of this subsidiary.

This announcement is dated 19 September 2022.