Reference is made to the Company's announcements dated 9 January 2017, 13 January 2017, 3 March 2017, 6 March 2017, 17 March 2017, 28 April 2017, 2 October 2017, 3 October 2017, 17 October 2017, 10 November 2017, 22 November 2017, 4 December 2017, 21 December 2017, 22 December 2017, 5 January 2018, 19 January 2018, 29 January 2018, 30 January 2018, 28 February 2018, 17 April 2018, 17 May 2018, 8 June 2018, 30 August 2018, 26 November 2018, 14 December 2018, 28 January 2019, 22 February 2019, 11 March 2019, 1 August 2019, 24 September 2019 and 7 October 2019  in respect of the aforesaid matter.

Pursuant to the hearing fixed on 15 October 2019 before Yang Arif Dato’ Abu Bakar bin Jais, the Company wishes to announce as follows:-

(a) Sumatec has filed a fresh application for a stay of proceedings pending disposal of Notice of Motion for Stay at the Court of Appeal (Enclosure 114). However the said application is dismissed with no order as to costs;

(b) The Court has granted a Winding Up Order against Sumatec in respect to Winding Up Petition (Enclosure 1) with costs of RM5,000.00 to be paid to the Petitioners and costs of RM2,500.00 to be paid to Continental Industrial Supplies and Services Ltd LLP (CISS) as a supporting creditor. 

(c) Prior (b) of the Winding Up Petition which deals with the appointment of a private liquidator is fixed for case management together with Reachmont Logistic Sdn Bhd’s application to appoint their choice of liquidator on 6.11.2019.

(d) Sumatec’s application to discharge the Provisional Liquidator (Enclosure 55) is struck out with no order as to costs. 

As such, the Company has instructed its solicitors to appeal against the decision of the High Court in respect of the Winding Up Order to the Court of Appeal.

In regard to the Notice of Motion of Stay filed at the Court of Appeal in respect of the Judgment of the Court of Appeal dated 16.4.2018,  the Company’s solicitors will make the necessary application for the sanction to the Official Receiver in order to proceed with the hearing of the Notice of Motion.

This announcement is dated 17 October 2019.