Winding-up petition (in the High Court of Kuala Lumpur, Winding Up Petition No. WA-28NCC-420-05/2023) served by CIMB Islamic Bank Berhad ("Petitioner") against Nextnation Datacity Sdn Bhd ("NDSB" or "Respondent")("Winding-up Petition")
| NEXGRAM HOLDINGS BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-17052023-00001 |
| Subject | Winding-up petition (in the High Court of Kuala Lumpur, Winding Up Petition No. WA-28NCC-420-05/2023) served by CIMB Islamic Bank Berhad ("Petitioner") against Nextnation Datacity Sdn Bhd ("NDSB" or "Respondent")("Winding-up Petition") |
| Description | Winding-up petition (in the High Court of Kuala Lumpur, Winding Up Petition No. WA-
28NCC-420-05/2023) served by CIMB Islamic Bank Berhad ("Petitioner") against Nextnation
Datacity Sdn Bhd ("NDSB" or "Respondent")("Winding-up Petition") |
| Query Letter Contents | We refer to your Company’s announcement dated 16 May 2023 in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1. Whether NDSB is a major subsidiary. 2. Nexgram’s total cost of investment in NDSB. 3. The nature and details of the debt owing to the Petitioner, including how it arose.
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 |
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We refer to the Company’s announcement dated 16 May 2023 in respect of the aforesaid matter and the letter from Bursa Malaysia Securities Berhad dated 17 May 2023 on the above matter.
The Company hereby provides the additional information for public release:-
1) NDSB is not a major subsidiary of Nexgram Group as the revenue contribution of NDSB to the Group is insignificant.
2) The total cost of investment in NDSB was RM500,000-00
3) NDSB obtained a Banking Facilities of RM14,820,000-00 from the Respondent and defaulted in the repayment of the outstanding principal sum of RM5.4 million since year 2021, particularly during the movement control period. NDSB had sought indulgence to reschedule the repayment which was granted by the Respondent, however, NDSB still defaulted. Therefore, the Respondent served the Notice of Demand and proceeded with the winding-up petition.
The Company also wish to inform that the second paragraph of item (c) of the announcement dated 16 May 2023 shall be read as the operations of NDSB will cease if the Company/NDSB fails to defend itself in the Petition, instead of the operations of “the Company” will cease.
This announcement is dated 18 May 2023.
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Announcement Info
| Company Name | NEXGRAM HOLDINGS BERHAD |
| Stock Name | NEXGRAM |
| Date Announced | 18 May 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18052023-00065 |