Sunway dissolves dormant Sunway Property

KUALA LUMPUR: Main board-listed Sunway Holdings Bhd said it has received the approval from the Companies Commission of Malaysia (CCM) to dissolve its dormant 82.5%-owned subsidiary, Sunway Property Sdn Bhd.

Sunway had earlier in September 2009 applied to the CCM to dissolve this subsidiary and has received a reply from the latter in a letter dated Jan 9, 2010 that after three months from the date of notice, Sunway Property's name will, unless cause is shown to the contrary, be struck off from CCM's register.

This will have no financial impact on Sunway Holdings, the company said in a statement to Bursa Malaysia on Feb 4.

Sunway Property was incorporated in March 16, 1992, and has an authorised and paid-up share capital of RM25,000 and RM2 respectively.