PETALING JAYA: Wintoni Group Bhd, whose last proposed regularisation plan involving a reverse takeover is still pending a definitive agreement, has begun a winding-up process.

Disclosing this to Bursa Malaysia yesterday, the Guidance Note 3 company also announced that an executive director – whom it did not name – had filed a police report on “possible wrongdoings” by past director Datuk Tey Por Yee.

Wintoni said its board had decided that the company could not, by reason of its liabilities, continue its business.

It has, therefore, appointed Mohd Afrizan Husain of Aftaas Corporate Advisory Services Sdn Bhd as an interim liquidator for the purpose of facilitating a creditors’ voluntary winding-up pursuant to Section 440 of the Companies Act, 2016.

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