Ahmad Zaki Resources Bhd (AZRB) announced that is wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (AZSB), had received winding-up petition from solicitors of the petitioner Sukiada Engineering Sdn Bhd (SESB).
In a Bursa filing today (Jan 26), the group said the petition was presented by the SESB to the High Court of Malaya on Jan 18.
“SESB claims AZSB had failed to settle the total outstanding amount of sum of a little over RM168,000 excluding interest as at 30 June 2023, which resulted in the former initiating this petition to wind up the latter.”
“We are currently negotiating with SESB to resolve the matter amicably. We are confident of resolving this matter as soon as possible,” the group said, adding that it is optimistic that the matter will be successfully resolved.
Explaining the delay on announcing the petition, the group clarified that ongoing negotiations were taking place between AZRB and SESB to reach a mutually acceptable resolution.
“Additionally, AZRB considers the outstanding sum claimed by SESB through the winding-up proceeding as not a material debt. AZRB believed that making any announcement regarding the petition would be premature,”
The group said AZSB is not a major subsidiary of the the group and as such, it did not anticipate any financial and operational impact due to the filing of the petition.
“Save except for the legal fees and disbursements involved, the group does not expect to incur losses arising from the petition.”
