Southern Steel Berhad (SSB) writes to inform that Southern Steel
Holdings Sdn Bhd (SSH), a wholly-owned subsidiary of SSB, had placed its
wholly-owned subsidiary, Saint Sense Blu Sdn Bhd (formerly known as Southern
Steel Bar Sdn Bhd) (SSBlu), under member's voluntary winding-up pursuant to
Section 254(1)(b) of the Companies Act, 1965 (Liquidation). Mr Ling Kam Hoong
and Ms Wong Swee Tyng of Messrs Ling Kam Hoong & Co., No. 6-1, Jalan 3/64A,
Udarama Complex, Off Jalan Ipoh, 50350 Kuala Lumpur had been appointed as Joint
Liquidators of SSBlu.
SSBlu is an investment holding company which owns 100% equity
interest in Starglow Investments Ltd (Starglow). The Liquidation is to
streamline the SSB Groups investment holding structure. Upon completion of the Liquidation, Starglow
will be directly owned by SSH.
The Liquidation will not have any material impact on the net assets
and earnings per share of SSB Group for the financial year ending 30 June 2015.
This announcement is dated 13 March 2015.