Ho Hup’s 52.5% indirect unit served with winding-up petition over payment dispute
“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.
“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.
At an extraordinary general meeting on the same day, shareholders approved the name change as well as the group's plan to diversify into interior design and fit-out activities.
The proposed IPO involves a public issue of 132 million new shares and an offer for sale of 59 million existing shares at a price to be determined later, according to its draft prospectus.
The project involves the development of Phase 3 of Arundina which consists of 130 units of double-storey semi-detached houses and a unit of Tenaga Nasional Bhd (KL:TENAGA) substation located specifically in Setia Alam.
Tuju Setia said the contract is expected to positively impact the company’s earnings and net assets from the financial year ending Dec 31, 2024, until the contract’s completion.
This latest win marks Econpile’s fifth contract secured since the beginning of the year.
The property will serve as the group's headquarters, warehouse and storage facility for vehicles and machinery after project completion.
RAM Rating Services Bhd has assigned a rating of “AA3” to the IMTN programme, and “P1” to the ICP programme, both with a stable outlook.
Jati Tinggi has secured five similar contracts totalling RM118.