News about Ho Hup

Ho Hup said details of the scheme of arrangement will be announced later.

The construction company said it received a demand notice from Insas Credit & Leasing Sdn Bhd over Ho Hup’s role as guarantor for its wholly-owned subsidiary Bukit Jalil Development Sdn Bhd, which failed to repay the outstanding loan amount.

The contractor, Geopancar Sdn Bhd, had initiated the adjudication to claim payments for substructure works for a project known as Flex @ Bukit Jalil City, undertaken by Ho Hup's wholly-owned unit Bukit Jalil Development Sdn Bhd (BJD).

The properties, located on levels five and six of Ho Hup Tower in Plaza Bukit Jalil, are being sold to Premium Realty Sdn Bhd and Sensecube Sdn Bhd respectively, both of which are wholly owned units of Insas.

The petition, filed by Sunrise Model on July 17, 2024, stemmed from a RM1.

The latest winding-up petition was filed by Negeri Sembilan Cement Industries Sdn Bhd (NSCI) against Ho Hup and its 90%-owned subsidiary, Tru-Mix Concrete Sdn Bhd.

Ho Hup said it received a sealed court order dated Nov 21, 2024 which said the winding-up petition has been struck out with liberty to file afresh and that Joterix’s deposit of RM3,000 will be refunded.

“Save for the amount claimed, the petition is not expected to have any financial and operational impact/losses to the group as the amount claimed is 0.

This follows the dismissal of GWSB's application to be placed under judicial management by the High Court in Kuala Lumpur on the same day.

SDB is now suing Ho Hup and HHVKK for RM46.