1. Introduction

The Board of Directors of Crescendo Corporation Berhad (“CCB”) wishes to announce that Unibase Sand Industries Sdn. Bhd. (Company No. 1102633-A) (“USISB”), a wholly-owned dormant subsidiary of Unibase Construction Sdn. Bhd. (Company No. 22898-A) (“UCSB”), which in turn is a wholly-owned subsidiary of CCB, has on 28th August, 2019 submitted an application to the Companies Commission of Malaysia to strike its name off the register pursuant to Section 550 of the Companies Act, 2016 (”Striking Off”).

2. Information of USISB

USISB is a private limited company incorporated in Malaysia on 23rd July, 2014. USISB has been dormant since incorporation.

3. Information of UCSB

UCSB is a private limited company incorporated in Malaysia on 6th September, 1975.UCSB is the immediate holding company of USISB. The issued and fully paid up capital of UCSB is RM750,000 consisting of 750,000 ordinary shares. UCSB is principally engaged in the business of building and general contractors, civil engineering work and investment holding.

4. Rationale for the Striking Off

There is no intention to carry on any business operation by USISB in the near future. Thus, the Board of Directors of CCB is of the opinion that it is in the best interest of CCB Group to strike USISB off the register of Companies Commission of Malaysia. The Striking Off would help to reduce the administrative resources and costs in maintaining USISB.

5. Financial Effect

The Striking Off will not have any material effect on the earnings, net assets and gearing of CCB Group for the financial year ending 31st January, 2020.

6. Approval Required

The Striking Off is not subject to the approval of CCB's shareholders. However, the application for the Striking Off is at the sole discretion and approval of the Companies Commission of Malaysia.

This announcement is dated 28th August, 2019