The Company wishes to announce that the Board of Directors of the Company had approved and given consent to the following subsidiary to make application to the Companies Commission of Malaysia (“CCM”) to strike off its name pursuant to Section 550 of the Companies Act 2016

Rationale for Striking Off

The above named subsidiary has been dormant since incorporation and has no intention to commence any business activities in the future.  The proposed strike-off would reduce the administrative resources and costs incurred for maintaining the above named subsidiary.

Therefore, the Board of Directors is of the opinion that the proposed strike-off is in the best interest of the Company.

Financial Effects

The proposed strike-off of the above named dormant subsidiary company will not have any material effect on the earnings per share and net assets per share of  QCHB Group for the financial year ending 31 January, 2024.

Approval

The proposed strike-off of the above named dormant subsidiary company is not subject to the approval of the shareholders of  QCHB.

Expected time of completion

The proposed strike-off is expected to be completed upon the receipt of the notification for strike off from CCM whereupon further announcement will be made by the Company.

This announcement is dated 18 January, 2024