Ecobuilt unit served with winding-up petition over unpaid debt

• The hearing of the petition has been fixed for Sept 8, 2025. Ecobuilt said it will seek legal advice on the legitimacy and enforceability of the petition and will announce any material development.

KUALA LUMPUR (July 9): Ecobuilt Holdings Bhd (KL:ECOHLDS) said on Wednesday that a major subsidiary has been served with a winding-up petition over an alleged debt amounting to RM447,886.46.

The petition was filed by Inflextec Engineering Sdn Bhd, which is seeking to have Ecobuilt unit, Rexallent Construction Sdn Bhd (RCSB), wound up under the Companies Act 2016 and to appoint an official receiver as provisional liquidator. The petition also seeks costs related to the proceedings to be paid out of the company’s assets.

The hearing of the petition has been fixed for Sept 8, 2025. Ecobuilt said it will seek legal advice on the legitimacy and enforceability of the petition and will announce any material development.

According to Ecobuilt's bourse filing, the dispute arose after Inflextec issued a statutory demand to RCSB on May 2, 2025, demanding payment of the outstanding sum. RCSB has not paid the amount claimed, prompting Inflextec to initiate the winding-up proceedings.

Classified as a major subsidiary of Ecobuilt under Bursa Malaysia’s Main Market Listing Requirements, Ecobuilt’s total investment in the subsidiary stood at RM750,000 as at Aug 31, 2024.

Ecobuilt said the financial impact to the group, in the event the petition succeeds, would be limited to the amount claimed and legal costs.

It added that there is no expected impact on the group's operations, and no additional losses are anticipated as the amount has already been recognised in the accounts.

Shares in Ecobuilt were untraded on Wednesday. The counter last closed at three sen on Monday (July 7), valuing the company at RM12.62 million.

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