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MENTIGA

0.440

-0.04 (-8.3%)

WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Member's voluntary winding-up of Subsidiaries, Mentiga Plantation Management Sdn Bhd and Selat Bersatu Sdn Bhd

MENTIGA CORPORATION BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
Member's voluntary winding-up of Subsidiaries, Mentiga Plantation Management Sdn Bhd and Selat Bersatu Sdn Bhd

The Board of Directors of Mentiga Corporation Berhad (“MCB”) wishes to announce that the following subsidiaries of MCB, have been placed under member’s voluntary winding-up on 18 July 2017:

 

  1. Selat Bersatu Sdn Bhd (“SBSB”); and
  2. Mentiga Plantation Management Sdn Bhd (“MPMSB”).

 

(‘the Subsidiaries”)

 

The details of the Subsidiaries are as follows:

 

Name

Date of Incorporation

Principal activity prior to winding-up

Cost of Investment

SBSB

27 September 1995

Investment holding.

RM10,000,000.00

MPMSB

30 October 1995

Provision of management and advisory services to oil palm plantations.

RM1,000,000.00

 

The Subsidiaries are not major subsidiaries of MCB. The Subsidiaries are presently dormant.

 

AFTAAS Corporate Advisory Services Sdn Bhd of No. 2, Jalan Rampai Niaga 2, Rampai Business Park, 53300 Kuala Lumpur has been appointed as the Liquidator. MCB Group has no intention to re-activate the Subsidiaries and the member’s voluntary winding-up will save future administrative costs to maintain the Subsidiaries.

 

The member’s voluntary winding-up of the Subsidiaries is not expected to have any impact on the earnings and net assets of MCB Group for the Financial Year ending 31 December 2017. It is also not expected to have any operational impact on MCB Group.

 

None of the Directors or Major Shareholders of MCB and/or persons connected with them has any interest, direct or indirect, in relation to the member’s voluntary winding-up.

 

This announcement is dated 18 July 2017.






Announcement Info

Company Name MENTIGA CORPORATION BERHAD
Stock Name MENTIGA
Date Announced 18 Jul 2017
Category General Announcement for PLC
Reference Number GA1-16062017-00006