Taliworks Corporation Berhad

TALIWORKS CORPORATION BERHAD

Type	Announcement
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 6^th 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 4^th June 2007 as a joint venture company to carry out the Proposed Projects as announced earlier on 15^th 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 6^th September 2011.

Company Name	TALIWORKS CORPORATION BERHAD
Stock Name	TALIWRK
Date Announced	6 Sept 2011
Category	General Announcement
Reference No	CS-110906-67D32

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