Ikhmas Jaya unit served winding-up petition by ready-mixed concrete supplier

KUALA LUMPUR (March 5): Ikhmas Jaya Bhd said its wholly-owned subsidiary has been served a winding-up petition by Ready Mix Concrete Consortium (TRG) Sdn Bhd (RMCC).

In a filing with Bursa Malaysia, the company said the subsidiary, Ikhmas Jaya Sdn Bhd (IJSB), owes RMCC money for the supply of ready-mixed concrete.

RMCC has claimed against IJSB RM146,668.52 being the outstanding balance for the principal judgment sum of the court dated Nov 18, 2018, the sum of RM14,013.47 in accrued interest for the judgment as at Aug 31, 2018 and another RM23,822.89 in accrued interest for the period between Sept 1, 2019, and May 14, 2019.

RMCC further claims RM16,500 being the accrued interest for the period between May 14 and Dec 31, 2019, and a sum of RM1,319.80 being cost awarded in the court judgment.

“The matter is under ongoing negotiation between IJSB and the petitioner for an amicable out of court settlement.

“A case management and a hearing has been fixed on March 17, 2020, and April 29, 2020, respectively,” said Ikhmas Jaya.

Ikhmas Jaya’s share price was down 0.5 sen or 7.14% at 6.5 sen in afternoon trading, giving the company a market capitalisation of RM38.24 million.

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