IGB liquidates dormant subsidiaries

KUALA LUMPUR: Several dromant subsidiaries of IGB Corporation will be undergoing a member’s voluntary iquidation exercise. 

The subsidiaries are Ipoh Garden Shopping Complex Sdn Bhd, K Parking Sdn Bhd, Mid Valley City Residences Sdn Bhd, Express Management Consultants Sdn Bhd, Pinex Sdn Bhd, T-Bond Construction Sdn Bhd and Teamwork M&E Sdn Bhd.

The Group's principal activities involve developing and selling condominiums, bungalows, linked houses, shoplots and office suites. Other activities include property investment and management, hotel operations, civil and building construction, laundry, hospital, medical centre and investment holding. The Group's operations are located in Malaysia, Asia Pacific and the United Kingdom.

The liquidation of the companies will not have any material impact on the earnings or net assets of IGB for the financial year ending 31 December 2010.

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