General Announcement::MEMBERS' VOLUNTARY LIQUIDATION OF STRAITS LION MANAGEMENT (MALAYSIA) SDN BHD
Issuer & Securities
GREAT EASTERN HOLDINGS LIMITED
GREAT EASTERN HLDGS LTD - SG1I55882803 - G07
Date &Time of Broadcast
Announcement Sub Title
MEMBERS' VOLUNTARY LIQUIDATION OF STRAITS LION MANAGEMENT (MALAYSIA) SDN BHD
Submitted By (Co./ Ind. Name)
Jennifer Wong Pakshong
Group Company Secretary and General Counsel
Description (Please provide a detailed description of the event in the box below)
At an Extraordinary General Meeting of Straits Lion Management (Malaysia) Sdn Bhd (the "Company") held on 21 April 2015, the shareholders of the Company passed a special resolution for the members' voluntary winding up of the Company.
Great Eastern Capital (Malaysia) Sdn Bhd (which has a 51% interest in the Company) is an indirect wholly-owned subsidiary of Great Eastern Holdings Limited ("GEH") and Lion Global Investors Limited (70% owned by GEH) owns the balance 49% interest in the Company.
The voluntary liquidation of the Company, which has ceased business activities since 2001, is part of the ongoing rationalisation of GEH group and is not expected to have any material impact on the net tangible assets or earnings per share of GEH group for the financial year ending 31 December 2015.