We wish to announce that we have been notified by our British Virgin Islands Agent that Allson International Management Limited (“AIML”), a wholly-owned subsidiary of the Company, had commenced a members’ voluntary winding up proceeding on 28 January 2020 as it has ceased business operation and is currently dormant.

AIML was incorporated on 11 August 1992 with an authorised and paid-up share capital of USD50,000/- and USD1/- respectively. 

Ms Kwan Mun Yoke of Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 47500 Subang Jaya, Selangor Darul Ehsan, Malaysia, has been appointed as liquidator for AIML on 28 January 2020. 

The total cost of investment in AIML was RM4.24. The voluntary winding up of AIML is part of Sunway Group’s continuing rationalization effort to improve efficiency within the Sunway Group and to eliminate unnecessary administrative costs in maintaining dormant subsidiaries.

There are no material losses or effects on the net assets per share and earnings per share of Sunway Group arising from the abovementioned liquidation.

This announcement is dated 31 January 2020.