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Winding Up / Receiver & Manager / Restraining Order / Special Administrator

Back 20 Apr 2015
Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description AXIATA GROUP BERHAD ("AXIATA") - MEMBERS' VOLUNTARY WINDING-UP OF DIGITAL MILESTONE SDN BHD

The Board of Directors of Axiata wishes to announce that its subsidiary held via Celcom Axiata Berhad (“Celcom”) namely, Digital Milestone Sdn Bhd (“Digital Milestone”), had on 20 April 2015 commenced members’ voluntary winding-up (“Winding-Up”) pursuant to Section 254(1)(b) of the Companies Act, 1965. In relation thereto, Mr Rabindra Singh A/L Kaher Singh (“Liquidator”) of Messrs. Rabin & Associates, Unit C-12-5, Level 12, Block C, Megan Avenue II, 12 Jalan Yap Kwan Seng, 50450 Kuala Lumpur was appointed as the Liquidator for Digital Milestone on the same day.

The Winding-Up of Digital Milestone is expected to be completed by October 2015 or about 6 to 9 months from the date of appointment of the Liquidator.

Information on Digital Milestone

Digital Milestone was incorporated in Malaysia on 9 July 2012. Its present authorised capital is RM500,000 comprising 500,000 ordinary shares of RM1.00 each. Its present issued and paid-up capital is RM500,000 comprising 500,000 ordinary shares of RM1.00 each. Digital Milestone has been dormant since incorporation.

Rationale for the Winding-Up

The Winding-Up proceeding of Digital Milestone is part of the rationalisation and streamlining exercise of Axiata Group.

Financial or Operational Effects of the Winding-Up

The Winding-Up of Digital Milestone will not have any financial or operational effects on Axiata Group.

Directors' and/or Major Shareholders' Interest

None of the Directors and/or major shareholders of Axiata and/or persons connected to them have any direct or indirect interest in the Winding-Up.

This announcement is dated 20 April 2015.





Announcement Info

Company Name AXIATA GROUP BERHAD
Stock Name AXIATA
Date Announced 20 Apr 2015
Category General Announcement for PLC
Reference Number GA1-20042015-00120