Scomi unit slapped with winding-up petition

July 13, 2018 | By | Reply More

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PETALING JAYA: Scomi Group Bhd’s (SGB) unit Scomi Special Vehicles Sdn Bhd (SSVSB) has been served with a winding-up petition over a RM1.09 million claim by Alexander Dennis (Malaysia) Sdn Bhd (ADM) and Alexander Dennis Ltd (ADL).

In a statement with Bursa Malaysia, SGB said SSVSB was served with the petition dated April 23, 2018 over the disputed sums which ADM and ADL alleged totalled RM1.09 million together with interest.

The debt arose from bus bodies provided by ADM with support from ADL in the UK. SGB noted that the debt had been progressively reduced under a consent order (CO) dated Nov 3, 2017.

“Subsequently SSVSB had defaulted payments under the CO”, it added.

SGB highlighted that its unit was in active negotiations with ADM and ADL to withdraw the petition and reinstate the installments under the CO, however it said the “negotiations were protracted and an amicable settlement could not be reached”.

Following that, it said an order was made on July 10 for the winding-up of SSVSB by ADM and ADL in the High Court of Malaya, Commercial Division and the extraction of the sealed order is now in progress.

“In the interim, SSVSB has sought legal advice on its next course of action. Based on such advice, SSVSB has instructed its lawyers to file an appeal to the Court of Appeal against the order.

“Furthermore, in order to maintain status quo, SSVSB shall also file an application to stay the order, to facilitate settlement of the claim by ADL,” it added.

SGB shares closed unchanged at 11 sen with 5.95 million shares changing hands.

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