Investor Relations


The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.

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

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description

AFFIN Holdings Berhad Members' Voluntary Winding-up of AFFIN Nominees (Tempatan) Sdn Bhd (Company No. 457450-U)

AFFIN Holdings Berhad ("AHB") wishes to announce that AFFIN Nominees (Tempatan) Sdn Bhd (Company No. 457450-U) ("ANT"), a dormant and wholly-owned subsidiary of AFFIN Hwang Investment Bank Berhad (“AFFIN Hwang IB”), which in turn is a wholly-owned subsidiary of AHB, had on 31 December 2015 commenced Members' Voluntary Winding-up pursuant to Section 254(1) (b) of the Companies Act, 1965.

Pursuant thereto, Datuk Tan Leh Kiah of AD-Consult Sdn. Bhd., Suite 13.02, 13th Floor, Menara Tan & Tan, 207 Jalan Tun Razak, 50400 Kuala Lumpur, has been appointed as Liquidator.

Brief Information on AFFIN Nominees (Tempatan) Sdn Bhd

ANT was incorporated on 7 February 1998. Its authorised share capital is RM100,000.00 consisting of 100,000 ordinary shares of RM1.00 each and its paid up share capital is RM2.00 consisting of 2 ordinary shares of RM1.00 each.

ANT was principally engaged in providing nominee and custodian services to its clients prior to the transfer of its entire business, assets and liabilities to AFFIN Hwang Nominees (Tempatan) Sdn Bhd ("AHNT") on 20 September 2014, pursuant to the Vesting Order obtained from the High Court of Malaya. The Company ceased its operations on the same day and became dormant thereafter.


Rationale for the Winding-up

The Members' Voluntary Winding-up of ANT is to rationalise and streamline the AHB Group structure.

Effects of the Winding-up

The winding-up of ANT is not expected to have any material effect on the earnings and net assets of the AHB Group for the financial year ended 31 December 2015.


This announcement is dated 6 January 2016.

 


Announcement Info

Company Name AFFIN HOLDINGS BERHAD
Stock Name AFFIN
Date Announced 06 Jan 2016
Category General Announcement for PLC
Reference Number GA1-06012016-00041