SEACERA

0.175

+0.005 (+2.9%)

MATERIAL LITIGATION Winding Up Statutory Notice pursuant to Section 466 of the Companies Act 2016

SEACERA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Winding Up Statutory Notice pursuant to Section 466 of the Companies Act 2016

The Board of Directors of Seacera Group Berhad ("the Company") wishes to announce that the Company had received a winding up Statutory Notice Issued Pursuant to Section 466 of the Companies Act 2016 dated 29 June 2022 (“Notice”) by Ambank Islamic Berhad through their solicitors demanded for the sum of RM14,644,788.98 as at 29 June 2022 (“Demanded Sum”).

Further details pertaining to the winding up Statutory Notice Issued Pursuant to Section 466 of the Companies Act 2016 are as follow:- 

1) The details of the default or circumstances leading to the filing of the Notice.

The alleged Demanded Sum is pursuant to the Judgment dated 4 November 2019 for the suit no. WA-22M-496-07/2019 for an amount RM18,306,705.17 obtained against the Company and its subsidiary company, Seacera Ceramics Sdn. Bhd. (In Liquidation) by Ambank Islamic Berhad.

2) If relevant, to also quantify the interest rate.

 Suit No. WA-22M-496-07/2019

1. Murabahah Tawarruq Term Financing-i

a) for an amount owing of RM12,364,346.10 and Ta’widh (late penalty interest) at the rate of 1% per annum;

2. Cashline-i

a) for an amount owing of RM5,942,359.07 and Ta’widh (late penalty interest) at the rate of 1% per annum;

3. Cost with amount RM4,000.00.

3) The financial and operational impact of the Notice on the Group.

No material financial and operational impact is expected from this Statutory Notice of Demand unless Ambank Islamics’ request of the winding up petition is granted by the Court.

4) The expected losses, if any arising from the Notice.

No further material losses are expected to incurred (except for any further related costs to be incurred from the Notice).

5) Steps to be taken

The Company is seeking legal advice on the matter. In addition, the Company will use its best endeavors to negotiate settlement and sourcing of fund to pay the settlement.

Further material development on the matter will be announced accordingly.

This announcement is dated 29 June 2022.






Announcement Info

Company Name SEACERA GROUP BERHAD
Stock Name SEACERA
Date Announced 29 Jun 2022
Category General Announcement for PLC
Reference Number GA1-29062022-00064