Affin Bhd : WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR

AFFIN Holdings Berhad ('AHB') wishes to announce that AFFIN Hwang Futures Sdn Bhd (Company No. 258146-M) ('AHF'), a dormant and wholly-owned subsidiary of AFFIN Hwang Investment Bank Berhad ('AFFIN Hwang IB'), which in turn is a wholly-owned subsidiary of AHB, had on 31 December 2015 commenced Members' Voluntary Winding-up pursuant to Section 254(1)(b) of the Companies Act, 1965.

Pursuant thereto, Datuk Tan Leh Kiah of AD-Consult Sdn. Bhd., Suite 13.02, 13th Floor, Menara Tan & Tan, 207 Jalan Tun Razak, 50400 Kuala Lumpur, has been appointed as Liquidator.

Brief Information on AFFIN Hwang Futures Sdn Bhd

AHF was incorporated on 16 February 1993. Its authorised share capital is RM5,000,000.00 consisting of 5,000,000 ordinary shares of RM1.00 each and its paid up share capital is RM5,000,000.00 consisting of 5,000,000 ordinary shares of RM1.00 each.

AHF was a licensed futures broker dealing in options and futures prior to the transfer of its entire business, assets and liabilities to AFFIN Hwang IB on 28 February 2015, pursuant to the Vesting Order obtained from the High Court of Malaya. The Company ceased its operations on the same day and became dormant thereafter.

Rationale for the Winding-up

The Members' Voluntary Winding-up of AHF is to rationalise and streamline the AHB Group structure.

Effects of the Winding-up

The winding-up of AHF is not expected to have any material effect on the earnings and net assets of the AHB Group for the financial year ended 31 December 2015.

This announcement is dated 6 January 2016.