AmProp’s Jersey-incorporated dormant unit begins wind-up process

KUALA LUMPUR (Sept 21): A Jersey-incorporated unit of Amcorp Properties Bhd (AmProp) has kick started its wind-up process. Merchant Alpha Ltd is dormant and has no intention to resume business.

In a statement to Bursa Malaysia today, AmProp said the winding-up will not have any material effect on the group’s earnings, net assets and gearing for the financial year ending March 31, 2017.

The authorised capital of Merchant Alpha is 50,000 pounds sterling (RM269,038), comprising 50,000 shares of one pound each, of which 100 shares have been issued to Walleng Enterprises Sdn Bhd, another wholly-owned subsidiary of AmProp. — theedgemarkets.com

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