PETALING JAYA: Axiata Group Bhd (Axiata) has commenced the members’ voluntary winding up of its subsidiary, Axiata SPV1 (Labuan) Ltd, effective June 25, 2024.
In a filing with Bursa Malaysia today, Axiata explained that the rationale for closing down Axiata SPV1 is that the company is now inactive.
“In 2010, Axiata SPV1 issued US$300 million (RM1.4142 billion) guaranteed notes listed and quoted on The Stock Exchange of Hong Kong Ltd, guaranteed by Axiata.
“The notes were settled on April 24, 2020,” it said, adding that with the settlement of the notes, the company is now inactive.
The telecommunications conglomerate also stated that the group no longer expects returns and proposed the members’ voluntary winding up of the company.
Axiata stated that the process is expected to be completed within six to nine months from the date of the liquidator’s appointment.