The Board of Directors of ATTA Global Group Berhad ("ATTA" or the "Company") wishes to announce that the Company's subsidiary, Duro Metal Industrial (M) Sdn. Bhd. (DMI) has on 26 September 2016 served a winding up petition against its wholly owned subsidiary, Duro Structural Products (M) Sdn. Bhd. (DSP) under Section 218 of the Companies Act, 1965 for a sum of RM116,416.48 being an amount due to DMI over the years.

DSP has been a dormant company for many years and is fully dependent on DMI for its payments. In view of the cost saving exercise in ATTA Group, the Directors of DMI decide to wind up DSP. The total cost of investment in DSP is RM350,000 which have been partially impaired over the years and DSP is not a major subsidiary;

The Company is of the view that there is no financial or operational impact on the Group and save for the legal fees and disbursements involved, the Company is not expected to incur losses arising  from the winding up proceedings. 

This announcement is dated 26 September 2016.