TOP BUILDERS CAPITAL BERHAD ("THE COMPANY" OR "TBCB")
-   WINDING UP ORDER
    PETITIONER : MALAYAN BANKING BERHAD
    RESPONDENT : IKHMAS EQUIPMENT SDN. BHD

We refer to your Company’s announcement dated 10 May 2023, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) To state that Ikhmas Equipment Sdn Bhd (“IESB”) is a wholly-owned subsidiary of Ikhmas Jaya Sdn Bhd (“IJSB”) which in turn is a wholly-owned subsidiary of the Company.

2) To state principal activities of IESB together with summary of audited financial information for the past 3 years including but not limited to revenue, profit before tax and profit after tax.

3) To provide details on the banking facilities under the industrial hire-purchase agreement including but not limited to date of the facilities agreement, financing sum and purpose of the financing.

4) To explain the circumstances or event that led to the winding-up order by the Kuala Lumpur High Court, including date of default, reason of the default and measures taken by the Company and/or IESB to address the default.

5) Whether the non-payment of RM5,198,078.93 as at 21.09.2022 is inclusive or excluding interest. If interest is excluded, to quantify the interest sum payable based on the winding-up order (if any).

6) To quantify the total cost of investment of TOP BUILDERS and/or IJSB in IESB.

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

8) To provide further justification as to why the winding-up order is not expected to have material financial and operational impact on the Group for the current financial year ending 30 June 2023.  

9) Confirmation on whether IESB is currently a major subsidiary as defined under Paragraph 1.01 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and specify the percentage of IESB’s contribution to the profit before tax or total assets employed of the Company on a consolidated basis (based on the latest account).  

10) The steps taken and proposed to be taken by the Company in respect of the winding-up order.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

Listing

Regulation
 

Cc : Market Surveillance Dept. , Securities Commission