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WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR Status update on the voluntary winding-up of MSM Trading International DMCC ("MTID")

MSM MALAYSIA HOLDINGS BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
Status update on the voluntary winding-up of MSM Trading International DMCC ("MTID")

Reference is made to page 18 of the Annual Report 2020 of MSM Malaysia Holdings Berhad (“MSMH”) issued on 27 April 2021 where MTID, wholly-owned subsidiary of MSMH, was reported to be under liquidation.

 

The Board of Directors of MSMH (“Board”) wishes to provide an update on the status of the voluntarily winding-up of MTID.

 

Mr. Nimish Makvana of Crowe Mak (DMCC Branch), Unit No. 99, DMCC Business Centre, Level No. 6, Jewellery and Gemplex 2, P.O. Box 93084 Dubai, UAE was appointed as the liquidator.


MTID was in the business of raw and refine sugar trading and not a major subsidiary of MSMH. MTID has ceased operations in April 2019 after its business functions were brought back to Malaysia and assumed by MSM Prai Berhad, another wholly-owned subsidiary of MSMH.

 

The Board was of the opinion that it is in the best interest of MSMH to wind-up MTID.

The winding up of MTID and the appointment of the liquidator has no material financial and operational impact on MSMH Group.

 

None of the directors or major shareholders of MSMH or persons connected with them has any interest, direct or indirect, in the winding up.

 

This winding-up exercise is expected to complete by 30 June 2022.

 

This announcement is dated 30 September 2021.

 






Announcement Info

Company Name MSM MALAYSIA HOLDINGS BERHAD
Stock Name MSM
Date Announced 30 Sep 2021
Category General Announcement for PLC
Reference Number GA1-29092021-00056




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