Axiata Group Bhd has commenced the members’ voluntary winding up of dormant subsidiary Awake Asia Distribution Sdn Bhd as part of efforts to streamline its corporate structure and reduce administrative costs.
The telecommunications group said the liquidation is being carried out after determining that the subsidiary has remained inactive since 2022 and is not expected to undertake any business activities in the foreseeable future.
Sky Corporate Services Sdn Bhd has been appointed as liquidator effective July 2 to oversee the winding-up process, which is expected to take between nine and 12 months, subject to the issuance of a tax clearance letter by the relevant authorities.
Awake Asia Distribution was incorporated in September 2017 and has an issued share capital of RM1.48 million comprising 1.48 million ordinary shares.
The company was previously established to engage in e-commerce activities, including the trading, retailing and distribution of goods through electronic platforms. However, Axiata said the entity has remained dormant following the group’s acquisition of the ADA business in 2021.
The subsidiary sits within Axiata’s digital business ecosystem through ADA Data AI Commerce Solutions Pte Ltd and related holding companies under the group’s digital services division.
