News
Syarikat Fit And Weld Engineering (M) Sdn Bhd ("SFWE" Or "Company") - Notice Of Winding-up Petition
BackAug 17, 2000
| General Announcement Reference No CU-000817-62885 |
| Submitting Merchant Bank | : | Not applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 17/08/2000 |
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| Type | : | Announcement |
| Subject | : | SYARIKAT FIT AND WELD ENGINEERING (M) SDN BHD ("SFWE" or "company") - NOTICE OF WINDING-UP PETITION |
Contents :
We wish to inform the Exchange that a Notice of Winding-up Petition dated 8 April 2000 has been served on our subsidiary, SFWE, on 15 August 2000 by the Government of Malaysia in respect of an indebtedness in the sum of RM136,353.65 arising from non-payment of income tax by the company ( hereinafter referred to as "Petition"). SFWE is a 70% owned subsidiary of Nagapura Management Corporation Sdn Bhd, which in turn is a wholly owned subsidiary of Advance Synergy Berhad ("ASB").
The Petition has been fixed for hearing at the High Court of Malaya at Kuala Lumpur on 15 September 2000.
No losses is expected and there will be no financial and operational impact on ASB Group as the investment in SFWE has been fully written off and SFWE has ceased operations in 1999 and is presently inactive.
Based on the audited accounts of SFWE for the financial year ended 31 December 1999, the total assets value of the company amounted to RM1,500 and the deficit in shareholders' funds was RM2,868,141.
SFWE will not be seeking legal advice to oppose the Petition.
(This announcement is dated 17 August 2000)