Date : 06 September 2011
WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR TALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”) - Winding-Up Petition on Taliworks-IBI Technologies International Limited, a subsidiary of Taliworks
|TALIWORKS CORPORATION BERHAD|
|Subject||WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR|
|Description||TALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”)|
- Winding-Up Petition on Taliworks-IBI Technologies International Limited, a subsidiary of Taliworks
The Board of Directors of Taliworks wishes to announce that its 70% indirectly owned subsidiary, Taliworks-IBI Technologies International Limited (“TITI”) had on 6th September 2011 received a winding-up petition from Messrs. Yuen & Partners, the solicitors for Taliworks International Limited (“TIL”), a wholly-owned subsidiary of the Company.
TITI was incorporated under the Hong Kong Companies Ordinance (Chapter 32) on 4th June 2007 as a joint venture company to carry out the Proposed Projects as announced earlier on 15th May 2007. However, it has ceased to undertake new projects since 2008 and has no intention to continue its business in the future. TITI is not a major subsidiary of the Company and TIL’s cost of investment in TITI was HKD140,000.00.
The winding-up proceedings will not have any material financial and operational impact on the group. Save for the legal costs to be incurred by TIL from the winding-up proceedings, the Company do not expect any additional costs from the winding-up proceedings.
This announcement is dated 6th September 2011.
|Company Name||TALIWORKS CORPORATION BERHAD|
|Date Announced||6 Sept 2011|