TypeAnnouncement
SubjectWINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
DescriptionWINDING-UP PETITION ON BOUSTEAD NAVAL SHIPYARD SDN BHD, A SUBSIDIARY OF THE COMPANY (“BNS”) BY MTU SERVICES (MALAYSIA) SDN BHD (“MTU”)

The Board of Directors of Boustead Holdings Berhad (“BHB” or the “Company”) wishes to announce that its subsidiary company, Boustead Naval Shipyard Sdn Bhd (“BNS”), has been served with a Winding-up Petition (“Petition”) on 3 July 2020 by MTU Services (Malaysia) Sdn Bhd (“MTU”).

 

By the Petition, MTU alleges that BNS is indebted to them for the total sum of RM56,044,740.00 (the “Sum”) for the equipment supplied and services provided to BNS.

 

BNS is currently reviewing the details of the Winding-up Petition and in the midst of engaging solicitors to act on its behalf in this matter. It is also relevant to note that the Petitioner did not obtain any judgement from the Court on the amount allegedly due and owing to them.

 

The Petition is fixed for Case Management on 7 January 2021 and for Hearing on 10 February 2021.

 

BHB is currently assessing the impact of the Petition on the Group, financially and operationally.

 

This announcement is dated 3 July 2020.

 


Announcement Info

Company NameBOUSTEAD HOLDINGS BERHAD
Stock NameBSTEAD
Date Announced03 Jul 2020
CategoryGeneral Announcement for PLC
Reference NumberGA1-03072020-00086