Marine & General Berhad (“M&G” or “the Company”) wishes to announce that its indirect wholly owned Labuan subsidiary namely, M&G Tankers (L) Pte. Ltd. (“MGTL”) has been effectively dissolved on 25 August 2023 i.e. the expiration of three (3) months after the Return by Liquidator relating to Final Meeting of MGML was lodged with Labuan Financial Services Authority.

MGTL was dormant since its incorporation on 8 January 2018.

The dissolution of MGTL will not have any effect on the share capital and shareholdings of the substantial shareholders of M&G and will not have any material effect on the earnings, net assets and gearing of M&G Group.

None of the directors or major shareholders of M&G or persons connected to them has any interest, direct or indirect, in the dissolution.

This announcement is dated 25 August 2023.