The wholly owned subsidiary of GDB, Grand Dynamic Builders Sdn Bhd had on 8 January 2024 filed a winding up petition with the Kuala Lumpur High Court against KSK Land Sdn. Bhd. with regards to the suit against the company.
This is in reference to its previous announcement on 21 December 2023, after it had successfully obtained court order that set aside the respondent’s ex parte court order for leave to summon a meeting with its creditors as part of a proposed Scheme of Arrangement.
The petition filed by GDBSB against the KSK it to seek, amongst other reliefs:- that KSK Land be wound up by the Court that a private liquidator nominated by the petitioner be appointed as the liquidator of the respondent by the Court; that the cost of and incidental to this Petition be paid out of the assets of the Respondent; and such further and/or other order as the Court deems fit and/or appropriate.
The parties will make further announcements to Bursa Malaysia Securities Berhad as and when there are material developments in relation thereof.
