On behalf of the Board of Directors of GFB, we wish to announce that we have on 1 April 2013 received a letter from the Companies Commission of Malaysia dated 15 March 2013 informing that Custom Tooling (Malaysia) Sdn Bhd (“CTM”), a wholly owned subsidiary have been struck-off from the Register of the Companies Commission of Malaysia pursuant to the powers conferred under Section 308 of the Companies Act, 1965 with effect from 15 February 2013.
CTM was incorporated in Malaysia on 23 December 1993 and was prinicpally engaged in the manufacturing and fabircation of tools, dies, moulds and high precision engineering plastics. It ceased operations in 2004 and has been dormant to this date. The authorised share capital of CTM is RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each of which 500,005 ordinary shares have been issued and fully paid-up.
The Strike-Off is part of GFB’s rationalisation exercise to improve efficiency within the GFB Group of Companies (“GFB Group”). In addition, the Strike-Off will enable GFB Group to save future costs associated with maintaining CTM.
The Strike-Off is not expected to result in any gain or loss or have any significant effect on the earnings or net tangible assets per share of GFB Group for the financial year ending 30 June 2013. The Strike-Off will also not have any operational impact on GFB and its group of companies.
This announcement is dated 1 April 2013.