Announcement Details/Table Section :
Reference is made to the Company's announcements dated 9 August 2012 and 5 November 2012.
The Board of Directors of the Company (the "Board") wishes to announce that pursuant to an order of the High Court in Malaya at Kuala Lumpur, Mr. Wong Cham Mew ("Liquidator") has been appointed as liquidator to replace the Official Receiver of Hexagon Engineering Construction Sdn Bhd (In Liquidation) ("HEC"), a wholly-owned sub-subsidiary company of the Company.
(a) Date of Appointment
The Liquidator is appointed as Liquidator of HEC on 11 January 2013.
(b) Particulars of the Liquidator
The Liquidator is a licensed liquidator and is practising at O&M Corporate Advisory Sdn Bhd, C-6-3A, 6th Floor, Block C, Megan Avenue II, No 12 Jalan Yap Kwan Seng, 50450 Kuala Lumpur.
(c) Details of the events leading to the appointment of the Liquidator
The details of the events can be referred to in our announcement dated5 November 2012.
(d) Terms of reference of the Liquidator
The Liquidator shall have and may exercise the functions and powers of a liquidator as provided and permitted by the law.
(e) Financial and operational impact on the Hexagon Group
The liquidation is not expected to have any material impact on the financial and operational matters of the Hexagon Group.
(f) Effects of the appointment on the business operations
The activities and businesses of HEC under the control and management of its Board of Directors and senior management shall cease. The liquidation is not expected to have any material effect on the business operations of the Hexagon Group.
(g) Steps taken by the Company in respect of the appointment of the Liquidator
The Company shall give full co-operation with regards to all the legal requirements, procedures and documentations requested by the Liquidator.
(h) Role of the board of directors in light of the appointment
As a matter of law, the powers of the Board of Directors of HEC are exercised by the Liquidator.
This announcement is dated 14 January 2013.
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