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MATERIAL LITIGATION HLT GLOBAL BERHAD ("HLT" OR "THE COMPANY") - WINDING-UP PETITION SERVED ON CENTRAL MEDICARE SDN BHD ("CM" OR "RESPONDENT") BY HL ADVANCE TECHNOLOGIES (M) SDN BHD ("HL ADVANCE" OR "PETITIONER"), A WHOLLY-OWNED SUBSIDIARY OF HLT, PURSUANT TO SECTION 465 (1) (E) AND 446 (1) (A) OF THE COMPANIES ACT 2016 AND COMPANIES (WINDING-UP) RULES 1972 ("WINDING-UP PETITION") - KUALA LUMPUR HIGH COURT COMPANIES WINDING-UP PETITION NO. WA-28NCC-598-06/2018

HLT GLOBAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
HLT GLOBAL BERHAD ("HLT" OR "THE COMPANY") 

- WINDING-UP PETITION SERVED ON CENTRAL MEDICARE SDN BHD ("CM" OR "RESPONDENT") BY HL ADVANCE TECHNOLOGIES (M) SDN BHD ("HL ADVANCE" OR "PETITIONER"), A WHOLLY-OWNED SUBSIDIARY OF HLT, PURSUANT TO SECTION 465 (1) (E) AND 446 (1) (A) OF THE COMPANIES ACT 2016 AND COMPANIES (WINDING-UP) RULES 1972 ("WINDING-UP PETITION")

- KUALA LUMPUR HIGH COURT COMPANIES WINDING-UP PETITION NO. WA-28NCC-598-06/2018

The Board of Directors of HLT wishes to announce that HL Advance has on 26 June 2018, via its advocates and solicitors, served the Winding-Up Petition on CM.

HL Advance is a glove-dipping machines manufacturer which involved in the supply, delivery and installation of glove-dipping machines. HL Advance has supplied, delivered and installed the glove-dipping machines for CM at their request. The circumstances leading to the filing of the Winding-Up Petition against CM was due to the fact that CM has failed, refused and/or neglected to make full payments for the works provided by HL Advance.

As at 25 June 2018, the remaining outstanding amounts from CM are as follows:

Particulars

Amount

Principal

RM10,273,088.16

Interest

RM1,099,393.93

Total

RM11,372,482.09

 

The Hearing for the Winding-Up Petition is fixed on 26 September 2018.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 26 June 2018.






Announcement Info

Company Name HLT GLOBAL BERHAD
Stock Name HLT
Date Announced 26 Jun 2018
Category General Announcement for PLC
Reference Number GA1-26062018-00040




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