OTHERS VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") APPLICATION TO STRIKE OFF DORMANT SUBSIDIARY COMPANIES PURSUANT TO SECTION 550 OF THE COMPANIES ACT 2016
|VIVOCOM INTL HOLDINGS BERHAD|
VIVOCOM INTL HOLDINGS BERHAD ("VIVOCOM" OR THE "COMPANY") APPLICATION TO STRIKE OFF DORMANT SUBSIDIARY COMPANIES PURSUANT TO SECTION 550 OF THE COMPANIES ACT 2016
The Board of Directors of the Company wishes to announce that its Indirect Subsidiary Companies i.e. Dektaria Delima Sdn. Bhd., Dynamic Interconsortium Sdn. Bhd., IE Communications Sdn. Bhd., Instacom SPV Sdn. Bhd. & Instacom Technologies Sdn. Bhd. have on 6 December 2018 applied to the Companies Commission of Malaysia (“CCM”) for striking off pursuant to Section 550 of the Companies Act 2016 (“Proposed Striking Off”).
The Indirect Subsidiary Companies are dormant companies and the principal activities of the Indirect Subsidiary Companies before they became dormant are as follows :
There are no intentions for the Indirect Subsidiary Companies to commence any business activities in the future. The Board of Directors of Vivocom is of the opinion that the Proposed Striking Off is in the best interest of the Company as it will reduce the administrative resources and cost incurred for maintaining the Indirect Subsidiary Companies.
The striking-off of the Indirect Subsidiary Companies are not expected to have any material effect on the Vivocom Group’s net assets and earnings for the financial year ending 31 December 2018.
The Striking off Applications are not subject to the approval of the shareholders of Vivocom.
This announcement is dated 6 December 2018.
|Company Name||VIVOCOM INTL HOLDINGS BERHAD|
|Date Announced||06 Dec 2018|
|Category||General Announcement for PLC|