DISSOLUTION OF 01-LABS.COM PTE LTD
Further to the announcement made on 10 June 2003 pertaining to the members’ voluntary liquidation of 01-labs.com Pte Ltd (“01-labs.com”), the Board of Directors of Hwa Hong Corporation Limited (“Hwa Hong”) wishes to advise that the Final Meeting of 01-labs.com was held on 19 April 2004 and the return was lodged with the Registrar and the Official Receiver on 20 April 2004. Accordingly, pursuant to Section 308(5) of the Companies Act, Chapter 50, 01-labs.com shall be dissolved on the expiration of 3 months after the lodgment of the return with the Registrar and the Official Receiver.
01-labs.com is a 88% owned subsidiary of Singapore Warehouse Company (Private) Ltd. which is in turn a wholly owned subsidiary of Hwa Hong.
The dissolution of
01-labs.com has no impact on the business or affairs of the Hwa Hong
Group nor does it have any significant effect on the consolidated net
tangible assets per share and the consolidated earnings per share of Hwa
Hong and its subsidiaries for the year ending
BY ORDER OF THE BOARD