1. INTRODUCTION

The Company wishes to announce that Ming Court Hotels International Sdn Bhd, a dormant wholly-owned subsidiary of MUIB, has at its Extraordinary General Meeting held on 1 November 2023, obtained approval from the sole shareholder to commence members’ voluntary winding-up pursuant to Section 439(1) (b) of Companies Act, 2016.

Mr Chong Mun Yew of Messrs Crowe KL Tax Sdn Bhd has been appointed as the Liquidator for the above Winding-Up.

2. DETAILS OF SUBSIDIARY UNDER WINDING-UP

3. RATIONALE FOR THE WINDING-UP

The winding-up of the subsidiary is part of the MUIB Group’s continuing rationalisation effort to simplify the structure of the MUIB Group. In addition, the Winding-Up will enable the MUIB Group to save future costs associated with maintaining this Subsidiary.

4. EFFECTS OF THE WINDING-UP

The Winding-Up will not have any material financial or operational effect on the MUIB Group for the current financial year ending 30 June 2024.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors, major shareholders and persons connected with the Directors and major shareholders of MUIB have any interest, direct or indirect, in the Winding-Up of this subsidiary.

This announcement is dated 1 November 2023.