CapitaLand Investment’s unit placed under members’ voluntary liquidation
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CAPITALAND Investment (CLI) said on Wednesday (Oct 25) that its wholly owned subsidiary, Ascendas Hospitality Fund Management, has been placed under members’ voluntary liquidation.
The liquidation event is not expected to have any material impact on the net tangible assets or earnings per share of the CLI group for the financial year ending Dec 31, it added.
None of its directors or the controlling shareholder of CLI has any interest in the liquidation of the subsidiary, which has ceased its business and has been dormant, said CLI.
A members’ voluntary winding up occurs when its shareholders pass a resolution or agree to liquidate a company. It is adopted when the company is able to pay its debts in full within 12 months after the commencement of winding up.
Units in CLI closed down 1.6 per cent, or S$0.05, at S$3.01 on Wednesday before the announcement.
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