| Pursuant to Paragraph 9.19(19) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Tambun Indah wishes to inform that TKS Land Sdn Bhd, (“TKS Land”), a wholly-owned subsidiary of Tambun Indah together with the remaining shareholders of Ascention had resolved by way of special resolution at an Extraordinary General Meeting held on 10 November 2021 that Ascention be wound-up voluntarily pursuant to Section 439(1)(b) of the Companies 2016 (“Members’ Voluntary Winding-Up”). Mr. Lee Peng Loon of 53 Jalan Deva Pada, 10400 Penang had been appointed as the Liquidator of Ascention for the purposes of the Members’ Voluntary Winding-Up. Ascention, a 50% owned dormant subsidiary of TKS Land was incorporated in Malaysia on 17 March 2010 and having its registered office at 51-21-A Menara BHL Bank, Jalan Sultan Ahmad Shah, 10050 Penang. Total cost of investment in Ascention is RM500.00. Ascention is not a major indirect subsidiary of Tambun Indah. The Members’ Voluntary Winding-Up will not have any financial and operational impact of on the Group. Save for the expenses related to Members’ Voluntary Winding-Up, there is no expected losses, arising from the voluntary winding-up. This announcement is dated 10 November 2021. |