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MATERIAL LITIGATION High Court of Shah Alam Winding Up Petition with no: BA-28NCC-459-09/2021 filed by EC Piles Sdn Bhd ("the Petitioner") against Seacera Group Berhad [Registration No. 198701005080 (163751-H)] ("the Respondent")

SEACERA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
High Court of Shah Alam Winding Up Petition with no: BA-28NCC-459-09/2021 filed by EC Piles Sdn Bhd ("the Petitioner") against Seacera Group Berhad [Registration No. 198701005080 (163751-H)] ("the Respondent")

The Board of Directors of Seacera Group Berhad ("the Company") wishes to announce that the Company had on 12 October 2021 received a Winding Up Petition dated 28 September 2021 and Affidavit Verifying Petition dated 1 October 2021 filed by EC Piles Sdn Bhd (“EC Piles”) from their solicitors for an alleged amount total RM650,755.32 purportedly due and owing to EC Piles pursuant to the Order dated 2 October 2019.

 

Further details pertaining to the Winding Up Petition are as follow:-

 

1)       The date of presentation of the Winding Up Petition and the date the Winding Up Petition was served to the Company

 

The date of presentation of the Winding Up Petition was on 28 September 2021 and the date the Winding Up Petition was served to the Company on 12 October 2021.

 

2)       The particulars of the claim under the Petition, including the amount claimed for under the Petition and the interest rate

 

The details of the claim under the Petition are as follow:-

a)         The Company is indebted in the total sum of RM650,755.32 pursuant to the Court Judgement dated 2 October 2019;

 

b)         The Company be wound up by the Court under the provision of the Companies Act, 2016;

 

c)         The Insolvency Department of Malaysia to be appointed as the Liquidator of Respondent;

 

d)         Costs of the Petition be taxed and paid out of the assets of the Respondent to the Petitioner;

 

e)         The Costs of the Petition be made the costs of the Winding Up; and

 

f)          such other orders may be made as the Court thinks just and fair.

 

3)       The details of the default or circumstances leading to the filing of the Winding Up Petition against the Company

 

The Petitioner alleged the Respondent failed to pay the Petitioner’s outstanding sum of RM650,755.32 pursuant to the Court Judgement dated 2 October 2019. Therefore, the Petitioner through their solicitor filed a Winding Up Petition against the Company to demand the outstanding sum.

 

4)       The financial and operational impact of the Winding Up Petition on the Group

 

No financial and operational impact is expected from this Winding Up Petition unless the Widing Up Order is granted by the Court.

 

5)       The expected losses, if any arising from the Winding Up Petition

 

No further material losses are expected to be incurred (except for any further related costs incurred arising from the Petition) as the alleged Demanded Sum (ie the principal sum) already accounted for/provided for in the financial statements.

 

6)       Steps to be taken

 

The Company will oppose the Winding Up Petition. In view that the Company was granted a Restraining Order (RO) on 29 September 2021 as announced on 30 September 2021, the Board of Directors believes that the Winding Up Petition will be put on hold as long as the RO remain valid/enforceable. Furthermore, the amount due to EC Piles has been included in the proposed scheme of arrangement at the Court Convened Creditors meeting to be held in due course.

 

The Case Management (CM) for this Petition is fixed on 27 October 2021 and the Hearing date for this Winding Up Petition is fixed on 10 January 2022 before YA Dato’ Azmi bin Ariffin.

 

The Company will make further announcement on any material development on this matter.

 

This announcement is dated 13 October 2021.

 

 






Announcement Info

Company Name SEACERA GROUP BERHAD
Stock Name SEACERA
Date Announced 13 Oct 2021
Category General Announcement for PLC
Reference Number GA1-13102021-00057




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