Ahmad Zaki Resources Berhad (AZRB) announced that its wholly-owned subsidiary, Ahmad Zaki Sdn Bhd (AZSB), has received a winding-up petition from Pathfinder M & E Sdn Bhd over an alleged outstanding payment amounting to RM2.66 million.
In an announcement to Bursa Malaysia, AZRB said the petition was filed by Pathfinder M & E with the High Court of Malaya on March 30, 2026 and was served on AZSB on April 1, 2026.
The petitioner claimed that AZSB had failed to settle RM2,662,264.70 in outstanding payments relating to the supply and delivery of quarry materials, resulting in the filing of the winding-up petition.
AZRB said the total cost of investment in AZSB stood at RM165.3 million.
However, the company clarified that AZSB is not a major subsidiary of the group and does not expect the petition to have any significant financial or operational impact on AZRB or its subsidiaries.
The group also does not anticipate any material losses arising from the matter, apart from legal fees and related disbursements.
AZSB is currently engaged in discussions with Pathfinder M & E to negotiate a prompt and amicable resolution, with AZRB expressing confidence that the matter can be resolved successfully.
The company explained that the delay in making the announcement to Bursa Malaysia was due to ongoing negotiations conducted in good faith with the petitioner in an effort to settle the issue amicably.
AZRB said it will provide further updates should there be any material developments regarding the petition.
