The Company wishes to announce that the following indirect subsidiary company (the “Subsidiary Company”) of UEM Sunrise has on 8 January 2019, submitted its application to the Companies Commission of Malaysia (“CCM”) to strike off its name from the register of CCM pursuant to Section 550 of the Companies Act 2016 (“Proposed Striking Off”):
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Name of Subsidiary Company
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Date of Incorporation
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Effective Equity Interest %
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Issued and Paid-up Share Capital (RM)
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Principal Activities prior to the Proposed Striking Off
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Saga Centennial Sdn Bhd
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21 September 2006
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100
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2
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Trading of steel. However, the Company has ceased operations as of 16 September 2008 and remain dormant thereafter.
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The Subsidiary Company is currently dormant/inactive and has no intention to carry on business or operations in the future.
The Proposed Striking Off of the Subsidiary Company is part of UEM Sunrise’s efforts to streamline operations and optimise overall efficiencies. It is not expected to have any significant financial and operational impact on UEM Sunrise Group for the financial year ending 31 December 2019 and no material losses are expected to arise from the Proposed Striking Off.
None of the Directors or major shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Proposed Striking Off.
This announcement is dated 8 January 2019.