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WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Members' Voluntary Winding-up of Dormant Subsidiaries
IJM CORPORATION BERHAD
Type
Announcement
Subject
WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
Members' Voluntary Winding-up of Dormant Subsidiaries
Three (3) dormant subsidiaries, namely Azam Ekuiti Sdn Bhd, Oriental Empire Sdn Bhd and Warga Sepakat Sdn Bhd are being wound-up by way of members' voluntary winding-up pursuant to Section 439(1)(b) of the Companies Act, 2016.
The date of incorporation, cost of investment and the relationship of the following companies are as follows:-
Subsidiary Company
Date of Incorporation
Net Cost of Investment
Relationship
1)
Azam Ekuiti Sdn Bhd
3 September 1992
RM1
a wholly-owned subsidiary of Malaysian Rock Products Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company via Industrial Concrete Products Sdn Bhd
2)
Oriental Empire Sdn Bhd
9 January 1993
RM1
a wholly-owned subsidiary of Malaysian Rock Products Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company via Industrial Concrete Products Sdn Bhd
3)
Warga Sepakat Sdn Bhd
13 March 1999
RM1
a wholly-owned subsidiary of Malaysian Rock Products Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company via Industrial Concrete Products Sdn Bhd
The winding-up of these companies will not have any significant financial and operational impact on the Group for the financial year ending 31 March 2026, and no material losses are expected arising from the winding-up.
None of the Directors or major shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the winding-up of these companies and no approval of shareholders is required.