KUALA LUMPUR: Vanzo Holdings Bhd has mutually agreed to terminate its shareholders’ agreement with Duong Tien Dung in relation to Vanzo Viet Nam Company Limited (VVCL), citing a divergence in business objectives.
In a filing with Bursa Malaysia, the air fragrance manufacturer said the termination was effected via a mutual termination agreement dated Jan 6, 2026, following an earlier shareholders’ agreement entered into on June 26, 2025.
Vanzo noted that it had not contributed its portion of US$35,000, representing 70% of the intended charter capital of VVCL. As such, Duong remains the sole member of the Vietnam entity as at the date of the announcement.
Under the terms of the termination, all parties will be released from claims, liabilities and obligations arising from the original agreement.
It also reaffirmed that all intellectual property rights — including trademarks, logos, trade names and packaging designs — remain the exclusive property of Vanzo.
