The Board of Directors of Bonia Corporation Berhad (“Bonia” or “Company”) wishes to announce that the dissolution of its indirect wholly-owned subsidiary company namely Guangzhou Bonia Fashions Co Limited (“GBF”), a company incorporated in the People’s Republic of China, has been completed.

Prior to the dissolution, GBF was a 100%-owned subsidiary company of Kin Sheng Group Limited, which in turn is a direct wholly-owned subsidiary of Bonia. GBF has ceased its business activities and the dissolution is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 30 June 2015.

To the best knowledge of the Directors, none of the Directors and major shareholders of Bonia and persons connected to the Directors and major shareholders have any direct or indirect interest in the dissolution of GBF. 

This announcement is dated 14 January 2015.