Besides the material uncertainty related to Country Heights’ ability to continue as a going concern, UHY Malaysia also highlighted the impairment of RM10.
Country Heights said the full payment of RM142,698 to Fujifilm was settled on Sept 4.
The petition was filed under Section 465(1)(e) and Section 466(1)(a) of the Companies Act 2016.
According to Country Heights, Versatile Champion owns a parcel of land measuring 526.
DONE DEAL: Condo unit, Park Regent, Desa ParkCity, Kuala Lumpur DONE DEAL: Condo unit, Amaya Saujana, Saujana, Shah Alam, Selangor When you hear of Country Heights, you think of premium prices and large bungalows.
"CHHB stands firm in protecting its reputation and warns other parties considering similar legal actions to refrain from making baseless claims," the group said in a statement on Thursday.
“As a public-listed company, Country Heights remains fully committed to upholding the highest standards of corporate governance, transparency, and financial responsibility.
Country Heights, in a statement issued to Bursa Malaysia last month, said the petition arises from the company’s failure to settle a sum of RM425,060 that arose from the legal service provided for the corporate exercise that had been aborted since it had taken too long to be completed.
"The Country Heights Group has faith and trust in the administration of the OR, and we have already deposited 10% of the total PoD as of February 2024, amounting to RM 380,000 while waiting for the final admission of PoD.
The property developer said it has authorised its chairman Tan Sri Mohd Anwar Mohd Nor to seek international tender submissions in US dollars, with Malaysian participation also welcomed, at the exchange rate of RM4.
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