Bina Puri hit with winding-up petition over RM309,129 debt

• Bina Puri Sdn Bhd (BPSB) was served with the winding-up petition on May 8 from Fujifilm’s solicitors, Messrs Skrine, with a hearing fixed for Aug 6, 2025, the property developer said in a filing on Tuesday.

KUALA LUMPUR (May 20): Bina Puri Holdings Bhd (KL:BPURI) said its wholly owned subsidiary has been served with a winding-up petition by Fujifilm Business Innovation Asia Pacific Pte Ltd, formerly Fuji Xerox Asia Pacific Pte Ltd, over an alleged outstanding debt of RM309,129.

Bina Puri Sdn Bhd (BPSB) was served with the winding-up petition on May 8 from Fujifilm’s solicitors, Messrs Skrine, with a hearing fixed for Aug 6, 2025, the property developer said in a filing on Tuesday.

“The delay in making the announcement on the petition was due to the process of verifying the details and grounds of the petition,” Bina Puri clarified. “The company acted in good faith to avoid premature or inaccurate disclosure which may mislead the market," it said.

According to the company, the alleged outstanding debt is subject to a scheme of arrangement sanctioned by the High Court on Jan 24, 2024.

The company noted that the scheme is binding on all scheme creditors, including Fujifilm, and governs repayment terms for debts owed as of the scheme’s cut-off date.

“The company views the filing of the winding-up petition as inappropriate, irregular, and in breach of the scheme,” it said.

The company has also referred the matter to Fujifilm's solicitor for an application to strike out the petition and seek relief over alleged reputational damage.

Bina Puri has also issued a formal demand to Skrine for the immediate withdrawal of the petition and retraction of a notice published in the local newspaper, New Straits Times, on May 20.

“There will be no immediate financial and operational impact and no expected loss to the group arising from the petition,” Bina Puri said, given that BPSB is not a major subsidiary of the company.

Bina Puri was recently in the spotlight after shares of its warrant B (BPURI-WB) surged on April 24, the same day of a hacking trading incident reported at Bursa Malaysia, involving approximately 80 accounts.

Shares of Bina Puri settled down one sen or 3.85% to 25 sen on Tuesday, valuing the group at RM202.95 million.

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