Freight Management Holdings Bhd. (“FMHB”) wishes to announce that its indirect 51%-owned subsidiary, Dependable Global Express Malaysia Sdn. Bhd. (“DGX”) has via its members’ meeting held on 5 November 2020 obtained approval of its shareholders to commence a members’ voluntary winding-up pursuant to Section 439(1)(b) of the Companies Act 2016. Ms Wong Wai Foong of Unit 30-01, Level 30, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur has been appointed as the Liquidator of DGX on the same day.

DGX has ceased its business operation and has no intention to carry on business or operations in the future. DGX is not a major subsidiary of FMHB.  

The members' voluntary winding-up of DGX will not have any material effect on the earnings and net assets of the FMHB Group for the financial year ending 30 June 2021.

None of the Directors or major shareholders of FMHB or persons connected to them have any interest, direct or indirect, in the said members' voluntary winding-up.

This announcement is dated 5 November 2020.