In furtherance to the announcement dated 9th May 2016, we wish to announce that the High Court of Malaya in Shah Alam (Court) has granted an order in respect of the appointment of private liquidator for SSHM on 27th October 2016.

We append herewith further information in respect of the said appointment:-

(a)​      The date of appointment:-

          27th October 2016.

​          ​

(b)​     The particulars of the liquidator:-​

​Mr. Ng Choon Jin (NRIC 820226-14-5055) [Liquidator License No. 2953/03/18(J/PH)] of S.L.NG Corporate Solutions Sdn Bhd.

(c)​      The details of the events leading to the appointment of the private liquidator.​

​​Pursuant to the winding up order granted by the Court on 5th May 2016 to SSHM, the Official Receiver has been appointed as liquidator for SSHM. Nevertheless, in view to facilitate and expedite SSHM’s liquidation process, KLAH has decided to appoint private liquidator to handle the liquidation process of SSHM.

(d)​      The terms of reference of the liquidator.​

​​The appointed liquidator is an approved liquidator within Section 8 and Section 4 of the Companies Act 1965. The appointed liquidator shall handle the end to end liquidation process. The liquidator shall ensure that the liquidation process of SSHM is done and completed in accordance with the law.

(e)​      The financial and operational impact on MAHB Group.​

​There is no financial and operational impact to MAHB Group pursuant to this appointment.

(f)​      The effect of the appointment on the business operations of MAHB.​

​There is no effect on the business operations of MAHB pursuant to this appointment.

(g)​      The steps taken or proposed to be taken by MAHB in respect of the appointment of the liquidator.​

KLAH has initiated the application to appoint the private liquidator to Court via Notice of Motion dated 29 July 2016 and has obtained the Court Order in respect of such appointment on 27th October 2016.

​          ​

(h)​      The role of the board of directors in light of the appointment of the liquidator.​

          As this is pertaining to the liquidation of SSHM, the Board of Directors of MAHB will be updated on the progress from time to time until completion of the liquidation process.

This announcement is dated 16 December 2016.