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

BackDec 02, 2019
Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description

Commencement of Members' Voluntary Winding Up of three wholly owned subsidiaries (Announcement pursuant to Chapter 9.19(19) of the Main Market Listing Requirements)

1. INTRODUCTION

 The Board of Directors of Sealink International Berhad (“SIB” or  “Company”) wishes to announce that the following three (3) wholly owned Non-operating subsidiaries of the Company, had on 1 December 2019 resolved to wind up by way of members' voluntary winding-up pursuant to Section 441 of the Companies Act 2016 (“Winding-Up”):-

  1. CERGAS MAJUSAMA SDN. BHD. (COMPANY NO. 635714-U)
  2. SEALINK MARINE SDN. BHD. (COMPANY NO. 226309-A)
  3. SEALINK MANAGEMENT SDN. BHD. (COMPANY NO. 250551-H) 

(collectively referred to as "the Non-operating Subsidiaries")

 Mr Wong Chie Bin has been appointed as the Liquidator for the Winding-Up of the Non-operating Subsidiaries.

 2. INFORMATION ON THE NON-OPERATING SUBSIDIARIES

 The date of incorporation, issued and paid-up capital and principal activity of the Non-operating Subsidiaries are set out as follows:-

 Non-operating Subsidiary

Date of Incorporation

Issued and Paid-up Capital

(RM)

Principal Activity

Cergas Majusama  Sdn Bhd

2 December 2003

500,000

Chartering of marine vessels

Sealink Marine Sdn Bhd

7 October 1991

500,000

Chartering of marine vessels

Sealink Management Sdn Bhd

14 October 1992

500,000

Chartering of marine vessels

3. RATIONALE FOR THE WINDING-UP

The Winding-Up of the Non-operating Subsidiaries to save costs associated with maintaining the above Non-operating Subsidiaries.

4. EFFECTS OF THE WINDING-UP

The Winding-Up of the Non-operating Subsidiaries will not have any material effect on the net earnings and net assets of the Group for the financial year ending 31 December 2019 as they are all non-operating subsidiaries for the financial year concerned.

5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors, major shareholders and persons connected with the Directors and major shareholders of the company have any direct and indirect interest in the Winding-Up of the Non-operating Subsidiaries.

This announcement is dated 2nd December 2019.




Announcement Info

Company Name SEALINK INTERNATIONAL BERHAD
Stock Name SEALINK
Date Announced 02 Dec 2019
Category General Announcement for PLC
Reference Number GA1-02122019-00088