AZRB hit with fresh winding-up petition over RM408,000 debt

KUALA LUMPUR (Aug 21): Engineering and construction group Ahmad Zaki Resources Bhd (KL:AZRB) has been hit with another winding-up petition, this time over RM407,753 in alleged unpaid bills for goods and materials supplied.

In a bourse filing on Friday, AZRB said its wholly-owned subsidiary Ahmad Zaki Sdn Bhd (AZSB) received the winding-up petition from TKH Industrial Supply Sdn Bhd on Thursday.

TKH Industrial Supply claims the subsidiary failed to settle the outstanding amount for goods, industrial materials and construction materials supplied to the group, said AZRB.

TKH Industrial Supply is 70%-owned by Tang Kam Huat and 30% by Yoon Poh Chan, according to the Companies Commission of Malaysia.

According to AZRB, AZSB is not a major subsidiary and the group does not expect the petition to have any significant financial or operational impact. Apart from legal fees and related disbursements, the group does not expect to incur any losses arising from the matter.

The total cost of investment in AZSB stands at RM165.3 million, said AZRB.

“AZSB is currently in discussions with the petitioner to negotiate for a prompt and harmonious resolution to this issue. The company holds a positive outlook, anticipating a successful resolution of the matter,” said AZRB.

As at end-March 2026, AZRB had RM1.46 billion in current liabilities against RM652.5 million in current assets, translating into negative working capital of RM804.8 million.

The latest petition from TKH Industrial Supply adds to a string of winding-up petitions against AZRB by contractors and consultants over the past two and a half years.

Less than three weeks ago, AZRB was served with a winding-up petition by Perunding ZKR Sdn Bhd over an alleged outstanding payment of RM3.94 million for works carried out under the East Klang Valley Expressway (EKVE) project.

In July, AZRB was served with two more winding-up petitions by Tenaga Nirwana (M) Sdn Bhd and Muhibbah Engineering Bhd over alleged unpaid claims totalling RM1.78 million, relating to the Sungai Kuantan bridge, EKVE and MRT projects.

Shares of AZRB closed unchanged at 12 sen on Friday, valuing the group at RM78.93 million.

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