1. INTRODUCTION
The Board of Directors of Gadang Holdings Berhad ("Gadang" or "the Company") wishes to announce that Borneo Engineering And Construction Sdn Bhd ("Borneo Engineering"), a 60%-owned subsidiary of Gadang Engineering (M) Sdn Bhd, which in turn is a wholly-owned subsidiary of the Company, has been dissolved following a Members' Voluntary Winding-up process. Borneo Engineering was a dormant company and there was no plan to activate this company.
2. SHAREHOLDING STRUCTURE
Prior to the dissolution, the equity interest in Borneo Engineering was held as follows:
- Gadang Engineering (M) Sdn Bhd: 60.0%
- Hii Sing Wo: 40.0%
3. DETAILS OF THE DISSOLUTION
Following the Final Meeting held on 5 January 2026, the "Return by Liquidator Relating to Final Meeting" was lodged with the Companies Commission of Malaysia and the Official Receiver. Pursuant to Section 459(5) of the Companies Act 2016, Borneo Engineering is deemed dissolved on the expiration of three (3) months after the date of lodgement on 9 January 2026. Accordingly, the company was dissolved on 9 April 2026.
4. RATIONALE & FINANCIAL IMPACT
The subsidiary was dormant and the dissolution is part of the Company's rationalisation exercise to streamline its corporate structure. The dissolution will not have any material effect on the earnings or net assets of the Gadang Group for the financial year ending 31 May 2026.
This announcement is dated 9 April 2026.