GABUNGAN AQRS BERHAD (GBGAQRS OR COMPANY) - APPLICATION TO STRIKE OFF AN INDIRECT DORMANT SUBSIDIARY PURSUANT TO SECTION 550 OF THE COMPANIES ACT 2016
The Board of Directors of the GBGAQRS wishes to announce that on 31 December 2018, an application had been filed to the Companies Commission of Malaysia (“CCM”) to strike off the name of Estet Etos Sdn Bhd (“EESB”) from the Register of the CCM under Section 550 of the Companies Act 2016. EESB is a wholly-owned subsidiary of Prestige Field Development Sdn Bhd, which in turn is a 52%-owned subsidiary of GBGAQRS.
EESB was incorporated on 5 August 2014 in Malaysia with an issued share capital of RM2.00 comprising 2 ordinary shares. The principal activity is property investment. EESB has ceased is business operation since 31 December 2017 and has no intention to carry on its business operation in the future.
The striking off of EESB is in the best interest of the GBGAQRS and shareholders of PFDSB, as it will reduce the administrative resources and cost incurred for maintaining EESB.
The striking off of EESB will not have any material effect on the share capital, shareholding structure, earnings and net assets of GBGAQRS Group for the financial year ending 31 December 2018.
The striking off of EESB is not subject to the approval of the shareholders of GBGAQRS. However, the striking off of EESB is subject to the approval of CCM.
This announcement is dated 31 December 2018.
|Company Name||GABUNGAN AQRS BERHAD|
|Date Announced||31 Dec 2018|
|Category||General Announcement for PLC|