WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR MMC CORPORATION BERHAD MEMBERS VOLUNTARY LIQUIDATION OF MMC ZELAN SDN BHD

MMC CORPORATION BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
MMC CORPORATION BERHAD 

MEMBERS VOLUNTARY LIQUIDATION OF MMC ZELAN SDN BHD

MMC Corporation Berhad (“MMC”) wishes to announce that MMC Zelan Sdn Bhd (“MMCZ”), a joint venture company between MMC and Zelan Berhad (“Zelan”), has today passed a special resolution to wind-up MMCZ vide members’ voluntary liquidation pursuant to Section 439(1) (b) of the Companies Act, 2016 (“Liquidation”).

The shareholders of MMCZ, namely MMC and Zelan which hold 60% and 40% of the shareholding respectively in MMCZ, have also approved the appointment of Encik Mohd Afrizan bin Husain of Messrs. Afrizan Tarmili Khairul Azhar as the liquidator of MMCZ in respect of the Liquidation.

MMCZ was incorporated on 19 May 2010 and the current issued and paid up share capital is RM25,000.00. The principal activities of MMCZ are to undertake, construct, maintain, improve, develop, implement, control, execute and/or manage any Light Rail Transit project in Malaysia or elsewhere and to carry out all related works thereto. MMCZ has not commenced any operations since its incorporation. MMCZ is not a major subsidiary of MMC, and the cost of its investment is RM15,000.00.

The Liquidation of MMCZ is part of MMC’s rationalisation efforts to wind up dormant subsidiaries in MMC Group of companies (“MMC Group”).

The Liquidation will not have any material impact on the earnings, net assets and gearing of MMC Group for the financial year ending 31 December 2018. The Liquidation is also not expected to have any operational impact on MMC Group.

None of the Directors or Major Shareholders of MMC or persons connected to them has any interest, direct or indirect in the Liquidation.

This announcement is dated 16 January 2018.






Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 16 Jan 2018
Category General Announcement for PLC
Reference Number GA1-16012018-00039