Ecobuilt which was served with a winding up petition by the High Court has shared additional information in relation to the notice as per requested by Bursa Malaysia Securities today.
The company said it had concurrently submitted a stay application for the winding-up proceedings which was dismissed by the High Court and a winding-up order was made against the Company.
The winding-up order was granted on 24 July 2024 and that no sealed winding-up order has been served to the company yet. However, the official receiver is the liquidator appointed by the Court.
Ecobuilt said save for the legal fees and disbursements involved in challenging and opposing the winding-up order, it does not expect to incur further losses arising from the winding-up order. It also noted that the operations will cease if the company fails to defend itself in the winding-up order.
The company also anticipates incurring financial and operational challenges should the winding-up order be upheld and that these challenges may include disruptions to business operations, asset realisation and any incidental cost.