The High Court has officially approved the appointment of interim judicial managers for oleochemical manufacturer Edenor Technology Sdn Bhd (ETSB) and its subsidiaries, marking a critical step forward in the group’s corporate rehabilitation strategy.
The joint-venture partner Mega First Corporation Berhad updated shareholders that the court had allowed the interim appointment during a hearing held on June 3, 2026. The Edenor Group received the sealed High Court order on June 5.
The High Court has named corporate advisory firm Messrs Rodgers Reidy & Co to act as the joint and several Interim Judicial Managers.
This interim arrangement will remain active pending the final court hearing of the Originating Summons for a full Judicial Management Order, which Edenor originally filed on May 20, 2026, due to mounting liquidity pressures and sustained operational losses.
Effective immediately, the court-appointed managers assume total executive control over the Edenor Group of Companies. Under the Companies Act 2016, their extensive legal mandates include the power to: Take absolute custody, management, and administrative control of all property, assets, and business affairs belonging to the Edenor Group. Negotiate and execute formal restructuring agreements, official schemes of arrangement, or broader corporate rehabilitation plans on behalf of the company. Dispose of group property in the ordinary course of business or as a structured component of the upcoming rehabilitation roadmap. Hire, engage, or terminate the services of specialized professional advisers, external consultants, and employees to protect company operations. Apply directly to the High Court for further legal directions or emergency orders regarding asset administration.
To ensure the interim managers have the necessary stability to evaluate the business without aggressive creditor disruptions, MFCB confirmed that the statutory legal shield remains firmly in place.
“The corporate moratorium under Section 410(c) of the Companies Act 2016 continues to remain in effect,” MFCB stated in its announcement. “During this moratorium period, no legal proceedings, debt executions, or other hostile legal processes may be commenced or continued against the Edenor Group or its property, save with the express leave of the High Court.”
Edenor Technology operates as a 50:50 joint venture between Mega First and 9M Technologies Sdn Bhd, anchoring its primary business in the downstream manufacturing of natural-based fatty acids, specialty chemical blends, and glycerin products. Further material updates on the court’s final judicial management decision are expected in the coming weeks.
