JERASIA

0.005

(%)

WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR JERASIA CAPITAL BERHAD ("JCB" OR "THE COMPANY") WINDING-UP PETITION (IN THE KUALA LUMPUR HIGH COURT, MALAYSIA WINDING UP PETITION NO. WA-28NCC-66-01/2023) SERVED BY AMBANK (M) BERHAD ("PETITIONER") AGAINST JERASIA FASHION SDN. BHD. ("JFSB" OR "RESPONDENT")

JERASIA CAPITAL BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
JERASIA CAPITAL BERHAD ("JCB" OR "THE COMPANY")
WINDING-UP PETITION (IN THE KUALA LUMPUR HIGH COURT, MALAYSIA WINDING UP PETITION NO. WA-28NCC-66-01/2023) SERVED BY AMBANK (M) BERHAD ("PETITIONER") AGAINST JERASIA FASHION SDN. BHD. ("JFSB" OR "RESPONDENT")

 

1)        DATE OF PRESENTATION OF THE WINDING-UP PETITION

Pursuant to Paragraph 9.19(19) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of the Company wishes to announce JFSB had on 31 January 2023 been served with a winding-up petition (“Petition”) by Messrs. Shook Lin & Bok acting for Ambank (M) Berhad (“Ambank” or “Petitioner”).

 

2)        THE PARTICULARS OF THE CLAIM UNDER THE WINDING-UP PETITION, INCLUDING THE AMOUNT CLAIMED FOR AND THE INTEREST RATE

JFSB was indebted to the Petitioner in the sum of RM28,952,482.09 as at 25 November 2022 being the amount due under the Judgment dated 6 April 2021 obtained against JFSB at the High Court of Malaya at Kuala Lumpur vide Suit No. WA-22NCC-630-12/2020. The Petitioner’s prays as follows:

a)           that JFSB be wound up by the Court under the provisions of the Companies Act, 2016;

b)           that the Official Receiver of Malaysia may be appointed as the Official Liquidator of JFSB;

c)           that the costs of the Petition be paid out of the assets of JFSB; and

d)           that such other Oder may be made in the premises as shall be just.

 

3)        CONFIRMATION AS TO WHETHER THE COMPANY IS A MAJOR SUBSIDIARY

JFSB is a private limited company and wholly-owned by JCB.

 

4)        THE FINANCIAL AND OPERATIONAL IMPACT OF THE WINDING-UP PETITION

There is no operational impact on the Group. The Company is not expected to incur further losses arising from the winding-up petition save for legal fees and disbursements involved to challenge and oppose the winding-up petition.

 

5)        THE EXPECTED LOSSES, IF ANY, ARISING FROM THE WINDING-UP PETITION

The Company is not expected to have any further loss arising from the winding-up petition.

 

 

6)        STEPS TAKEN AND PROPOSED TO BE TAKEN IN RESPECT OF THE WINDING-UP PETITION

The Court has fixed the case management and hearing on 16 March 2023 and 30 August 2023 respectively.

 

The Company is seeking the necessary legal advice to resolve and/or defense against this matter.

 

Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

 

This announcement is dated 31 January 2023. 






Announcement Info

Company Name JERASIA CAPITAL BERHAD
Stock Name JERASIA
Date Announced 31 Jan 2023
Category General Announcement for PLC
Reference Number GA1-31012023-00091