INTRODUCTION

The Company wishes to announce that it had on 5 July 2022 received confirmation that KNM-DP Fabricators Sdn Bhd ("KNMDP"), an indirect subsidiary of the Company had been officially struck-off from the register of companies upon publication in the Gazette by the Registrar of Companies (“Registrar”) on 29 June 2022, following an application made by KNMDP to the Registrar for the striking-off pursuant to Section 550 of the Companies Act 2016 (“Striking-Off”).

INFORMATION ON KNMDP

KNMDP was incorporated on 22 January 1992 as a private limited company under the laws of Malaysia. Its current issued share capital is RM528,570.00 divided into 528,570 ordinary shares and it has been dormant since 1 January 2011.

RATIONALE

The Striking-Off of KNMDP is part of the Company’s exercise to streamline KNM Group’s corporate structure and for administrative efficiency by dissolving the subsidiaries which are dormant.

FINANCIAL EFFECTS

The Striking-Off will not has any material effect on the share capital and substantial shareholders’ shareholding of the Company, and the earnings and net assets per share of the Company for the financial year ending 31 December 2022.

DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders of KNM and/or person connected with them has any interest, direct or indirect, in the Striking-Off. 

APPROVAL REQUIRED

The Striking-Off is not subject to the approval of the shareholders of KNM.