The Board of Directors of MIECO wishes to announce that Aspire Benchmark Sdn Bhd (“ABSB”), a wholly-owned subsidiary of MIECO, has on 20 December 2023 commenced winding up proceedings voluntarily in accordance with Section 439(1)(b) and Section 441 of the Companies Act, 2016 (“Member’s Voluntary Winding Up”).

In connection with the above, Mr. Foo Poh Khean of No. 20-3A, Jalan Pandan 2/1, Pandan Jaya, 55100 Kuala Lumpur has been appointed as the Liquidator of ABSB, for the purpose of the Member’s Voluntary Winding Up.

ABSB was incorporated on 19 August 1999 under the Companies Act, 1965 and has an issued and paid up share capital of RM888,200.00 comprising 888,200 ordinary shares. 

ABSB has ceased its operation since year 2010 and it has no intention of carrying on business in the future. The Member’s Voluntary Winding Up will enable MIECO Group to save future costs associated with maintaining ABSB, a dormant subsidiary.

ABSB is not a major subsidiary of MIECO and the Member’s Voluntary Winding Up is not expected to have any material effect on the net assets, gearing and earnings of MIECO Group for the financial year ending 31 December 2023 as well as the business operations of MIECO Group.

None of the Directors or major shareholders of MIECO and/or persons connected to them have any interest, direct or indirect, in the Member’s Voluntary Winding Up and no approval of shareholders of MIECO is required.

This announcement is dated 20 December 2023.