We refer to the announcement dated 16 January 2018 in relation to the Members’ Voluntary Liquidation (“Liquidation”) of MMC Zelan Sdn Bhd (“MMCZ”).

Zelan Berhad (“Zelan”) wishes to announce that the final meeting for the Liquidation of MMCZ, a joint venture company between Zelan and MMC Corporation Berhad, was duly held on 7 November 2018.

In accordance with Section 459(3) and (5) of the Companies Act 2016, MMCZ will be dissolved after the expiration of three (3) months from the date of lodgment of the return by liquidator relating to the final meeting with the Companies Commission of Malaysia and Official Receiver.

The dissolution of MMCZ will not have any operational or material impact on the earnings, net assets and gearing of Zelan Group for the financial year ending 31 December 2018. 

None of the Directors or Major Shareholders of Zelan or persons connected to them has any interest, direct or indirect in the said dissolution.

This Announcement is dated 7 November 2018.