News Column

Malaysia : KEC completes liquidation process

June 6, 2014

Kim Eng Consultant Limited (China) (KEC), indirect subsidiary of Malayan Banking Bhd (Maybank), which was placed under members' voluntary liquidation on April 23, 2009, has announced completion of the process on May 27 2014.

On Wednesday, the Company said, The dissolution of KEC will not have any material effect on the consolidated earnings or net assets of Maybank for the financial year ending Dec 31, 2014.

KEC is under full ownership of Kim Eng Investment Ltd, which is a fully-owned subsidiary of Maybank Kim Eng Holdings Limited (MKEH).

Maybank is the ultimate holding company of the above mentioned entities. Establishment of KEC initially aimed at providing local market research, feasibility studies and advisory services.

Liquidation of KEC forms part of the corporate rationalisation operation at MKEH.

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Source: TendersInfo (India)

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