Key Update: Appointment of Private Liquidator for Aspen Glove Sdn. Bhd. (AGSB)

Summary of Announcement

• High Court of Malaya in Penang has approved the appointment of a private liquidator for Aspen Glove Sdn. Bhd. (AGSB), an indirect subsidiary of Aspen (Group) Holdings Limited.
• The application was made by Aspen Vision All Sdn. Bhd. (AVA), a wholly owned subsidiary and shareholder of AGSB.
• Dato’ Adam Primus Varghese bin Abdullah of Messrs. Adamprimus was nominated by AVA and has been appointed as the private liquidator in place of the Official Receiver.
• Costs and remuneration related to the liquidation process will be borne by AGSB and paid out of its assets.
• All developments will be communicated to shareholders via SGXNET as and when there are material updates.

Details for Investors

The Board of Directors of Aspen (Group) Holdings Limited has announced that the High Court of Malaya in Penang has, on 4 June 2026, granted the application by Aspen Vision All Sdn. Bhd. (AVA) to appoint a nominated private liquidator for Aspen Glove Sdn. Bhd. (AGSB), which is currently undergoing liquidation. This replaces the previous Official Receiver with a private liquidator.

Key Details of the Court Order:

1. Appointment of Private Liquidator: Dato’ Adam Primus Varghese bin Abdullah of Messrs. Adamprimus has been officially appointed as the private liquidator for AGSB, replacing the Official Receiver. This appointment was made at the request of AVA, as a shareholder and contributory of AGSB.
2. Cost and Remuneration: All costs arising from the application, as well as the expenses and remuneration of the private liquidator, will be paid out of AGSB’s assets in accordance with the Companies Act 2016 and the Companies (Winding Up) Rules 1972.
3. Ongoing Updates: Aspen (Group) Holdings Limited will continue to update shareholders via SGXNET regarding any material developments in the liquidation process.

Implications for Shareholders

• Potentially Price-Sensitive Development: The replacement of the Official Receiver with a private liquidator could impact the speed, direction, and outcome of the liquidation process for AGSB. The selection of a private liquidator nominated by a wholly owned subsidiary may allow the group greater oversight or influence over the liquidation, which could affect the recovery of assets, creditor repayments, and ultimately any residual value to Aspen shareholders.
• Financial Impact: All liquidation-related costs and the private liquidator’s remuneration will be paid out of AGSB’s assets, which may affect the final amount available for distribution to creditors or shareholders.
• Ongoing Disclosure: Shareholders are advised to monitor further announcements from Aspen (Group) Holdings Limited for updates that may affect the group’s financial standing and share value.

Conclusion

This development represents a significant step in the winding-up of Aspen Glove Sdn. Bhd., and may have implications for Aspen (Group) Holdings Limited’s financial position and share price depending on the outcome of the liquidation and the value of recoverable assets. Investors should remain vigilant for subsequent updates from the company as the process unfolds.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation regarding the shares of Aspen (Group) Holdings Limited. Investors should conduct their own due diligence or consult their financial advisors before making investment decisions.

中文版本

要点摘要：为Aspen Glove Sdn. Bhd.（AGSB）任命私人清算人

• 槟城高等法院已批准为Aspen (Group) Holdings Limited间接子公司Aspen Glove Sdn. Bhd.（AGSB）任命私人清算人。
• 申请由Aspen Vision All Sdn. Bhd.（AVA）提出，AVA为AGSB的全资子公司和股东。
• AVA提名的Dato’ Adam Primus Varghese bin Abdullah（Adamprimus律师事务所）被任命为私人清算人，取代原官方清算人。
• 与清算相关的所有费用和报酬将由AGSB资产支付。
• 公司将在有重大进展时通过SGXNET及时通知股东。

投资者详细信息

Aspen (Group) Holdings Limited董事会宣布，槟城高等法院已于2026年6月4日批准由Aspen Vision All Sdn. Bhd.（AVA）提出的申请，为正在清算中的Aspen Glove Sdn. Bhd.（AGSB）任命指定的私人清算人。这一决定用私人清算人取代了原官方清算人。

法院命令的关键内容：

1. 私人清算人任命： AVA提名的Adamprimus律师事务所的Dato’ Adam Primus Varghese bin Abdullah已被正式任命为AGSB的私人清算人，取代官方清算人。
2. 费用及报酬： 所有与此申请相关的费用，以及私人清算人的费用和报酬，将按照2016年公司法及1972年公司（清算）条例，由AGSB资产支付。
3. 持续披露： Aspen集团将通过SGXNET及时向股东通报清算进展的任何重大变化。

对股东的影响

• 可能影响股价的发展： 用私人清算人取代官方清算人，可能影响清算进度、方向及结果。由全资子公司提名的私人清算人可能使集团对清算过程有更大影响，从而可能影响资产回收、债权人偿付及最终对Aspen股东的剩余价值分配。
• 财务影响： 所有清算相关费用及私人清算人的报酬将由AGSB资产支付，可能影响最终可分配给债权人或股东的金额。
• 持续披露： 建议股东密切关注Aspen集团后续公告，因进展可能影响集团财务状况及股价。

结论

这一进展是Aspen Glove Sdn. Bhd.清算过程中的一个重要步骤，最终清算结果及可回收资产价值可能对Aspen集团的财务状况及股价产生影响。投资者应密切关注公司后续动态。

免责声明： 本文仅供参考，不构成对Aspen (Group) Holdings Limited股票的投资建议。投资者应自行进行尽职调查或咨询财务顾问后再作投资决策。

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