The Board of Directors of mTouche wishes to announce that the Company had on 1 September 2022 received a Winding-Up Petition dated 19 August 2022 together with the Affidavit Verifying Petition affirmed on 22 August 2022 from the Petitioner for an alleged amount RM219,197.66 purportedly due and owing to the Petitioner as at 30 June 2022 being the amount due under the Judgment dated 22 July 2020 obtained after a full trial from Kuala Lumpur High Court vide Suit No. WA-22NCvC-396-08/2017 (“Judgement”).

The details on the Winding-up Petition are as follow:-

1) The date of presentation of the Winding-Up Petition and the date the Winding-Up Petition was served to the Company.

The Winding-Up Petition were presented to the Kuala Lumpur High Court by Messrs. Messrs. Tay & Helen Wong for the Petitioner on 19 August 2022 and a copy of which was served to the Company on 1 September 2022.

2) The particulars of the claim under the petition, including the amount claimed for under the petition and the interest rate.

The Petitioner is claiming the following under the Petition:-

a) that the Company be wound up by the Court under the provisions of the Companies Act 2016;
b) that the Director General of Insolvency be appointed as the Liquidator of the Company;
c) that the Petition’s debt be settled out of the assets of the Company;
d) that the Petitioner be allowed the cost of and incidental to the winding up and paid by the Liquidator out of the assets of the Company; and
e) such other orders may be by the honourable Court in the premises as shall be just and equitable.

3) The details of the default or circumstances leading to the filing of the winding-up petition against the listed corporation.

Under the service contract, the jurisdiction shall be at the Court of Singapore, however the Petitioner managed to file the case in the Court of Malaysia with judgement obtained in favour of the Petitioner.

MTouche rejected the invoices claim by the Petitioner as the Petitioner did not produce proof of services delivery with acceptance from the Company.

The Company has submitted to the Appellate Court to have the Judgement dismissed, pending for case management schedule in month of October 2022.

4) The financial and operational impact of the winding-up on the group.

The Winding-Up Petition has no financial and operational impact on the Company.

5) The expected losses, if any arising from the winding-up.

Except for the amount claimed, the Company is not expected to incur any further loss arising from the Winding-Up Petition.

6) The steps taken and proposed to be taken by the listed corporation in respect of the winding-up proceedings.

The Company is currently seeking the necessary legal advice for the purposes of this winding-up petition.

Further material development on the matter will be announced accordingly.

This announcement is dated 2 September 2022.