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Members' Voluntary Winding-Up Of Alpine Resources Sdn Bhd And Technology Resources (Nominees) Sdn Bhd

Back 26 Oct 2010
Date Announced
:
 26/10/2010  




Type
:
 Announcement
Subject
:
AXIATA GROUP BERHAD (“AXIATA”)
MEMBERS’ VOLUNTARY WINDING-UP OF ALPINE RESOURCES SDN BHD AND TECHNOLOGY RESOURCES (NOMINEES) SDN BHD

Contents
:
The Board of Directors of Axiata wishes to announce that its wholly-owned subsidiaries held via Celcom Axiata Berhad [formerly known as Celcom (Malaysia) Berhad] (“Celcom”) namely, Alpine Resources Sdn Bhd (“Alpine Resources”) and Technology Resources (Nominees) Sdn Bhd (“TR Nominees”), had on 26 October 2010 commenced members’ voluntary winding-up (“Winding-Up”) pursuant to Section 254(1)(b) of the Companies Act, 1965. In relation thereto, Encik Mohd Afrizan bin Husain and Encik Khairul Azahar bin Ariffin (“Liquidators”) of Messrs. Afrizan Tarmili Khairul Azahar (“AFTAAS”), 2 Jalan Rampai Niaga 2, Rampai Business Park, 53300 Kuala Lumpur were appointed as the Liquidators for Alpine Resources and TR Nominees on the same day.

The Winding-Up of Alpine Resources and TR Nominees is expected to be completed by April 2011 or about 6 to 9 months from the date of appointment of the Liquidators.

Announcement Details :

Information on Alpine Resources

Alpine Resources was incorporated in Malaysia on 8 September 1987. Its present authorised capital is RM2,500,000 comprising 2,500,000 ordinary shares of RM1.00 each. Its present issued and paid-up capital is RM2,500,000 comprising RM2,500,000 ordinary shares of RM1.00 each. The principal activity of Alpine Resources was investment holding. Alpine Resources has been inactive since 2003.

Information on TR Nominees

TR Nominees was incorporated in Malaysia on 30 May 1991. Its present authorised capital is RM25,000 comprising 25,000 ordinary shares of RM1.00 each. Its present issued and paid-up capital is RM2 comprising 2 ordinary shares of RM1.00 each. The principal activity of TR Nominees was investment holding. TR Nominees has been dormant since its incorporation.

Rationale for the Winding-Up

The Winding-Up proceeding of Alpine Resources and TR Nominees is part of the rationalisation and streamlining exercise of Axiata Group.

Financial or Operational Effects of the Winding-Up

The Winding-Up of Alpine Resources and TR Nominees will not have any financial or operational effects on Axiata Group.

Directors’ and Substantial Shareholders’ Interest

One of the partners of AFTAAS is a person connected to Dato’ Sri Jamaludin Ibrahim, Managing Director/President & Group Chief Executive Officer (“President & GCEO”) of Axiata. Dato’ Sri Jamaludin who is also the Chairman of Celcom had during the deliberation on the Winding-Up at the Board of Directors’ Meeting of Celcom, abstained from deliberating and voting on the appointment of AFTAAS.

Save as disclosed above, none of the Directors and substantial shareholders of Axiata or persons connected with them has any interest, direct or indirect, in the Winding-Up.

This announcement is dated 26 October 2010.