Bumi Armada Berhad announced that its inactive subsidiary, Armada Floating Solutions Limited was dissolved on July 17, 2020 upon issuance of the Certificate of Dissolution by the Registrar of Corporate Affairs of the British Virgin Islands. AFSL was incorporated on May 10, 2007 in BVI and is a wholly-owned subsidiary of BAB. The issued capital of AFSL is USD 10,000 comprising shares of USD 1.00 each. AFSL was principally involved in asset ownership and has been inactive since 2018. The dissolution of AFSL is in line with the BAB Group’s streamlining exercise and is not expected to have any material impact on the earnings or net assets of BAB Group for the financial year ending 31 December 2020. None of the Directors or Major Shareholders of BAB or persons connected to them have any interest, direct or indirect, in the dissolution of AFSL.