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- The group said in a filing with Bursa Malaysia on Friday that the petitions were filed by Perunding ZKR Sdn Bhd and Mentari Kencana Sdn Bhd, claiming that AZSB had failed to settle a sum amounting to RM5.31 million.
KUALA LUMPUR: Ahmad Zaki Sdn Bhd (AZSB), a wholly-owned subsidiary of AZRB Bhd (KL:AZRB), has received two winding-up petitions over alleged unpaid monies.
The group said in a filing with Bursa Malaysia on Friday that the petitions were filed by Perunding ZKR Sdn Bhd and Mentari Kencana Sdn Bhd, claiming that AZSB had failed to settle a sum amounting to RM5.31 million.
AZSB received the first petition from Perunding ZKR on October 8 over an alleged unpaid sum of RM5.2 million. The second petition, from Mentari Kencana, was received on November 3 for an outstanding amount of RM109,860.
AZRB said the total cost of its investment in AZSB amounts to RM165.3 million. However, it noted that AZSB is not a major subsidiary and the AZRB Group does not anticipate any significant financial or operational impact from the petitions, apart from legal fees and related disbursements.
The company added that AZSB is actively engaged in discussions with both petitioners to reach a prompt and amicable resolution. AZRB expressed confidence in a positive outcome.
The board also explained that the delay in making the announcement to Bursa Malaysia Securities Berhad was due to ongoing good-faith negotiations with the petitioners aimed at resolving the matter amicably.
In July, AZSB also received a winding-up petition from Giga Engineering & Construction Sdn Bhd over an alleged unpaid sum of RM5.86 million.
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