WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR

Company Name SERBA DINAMIK HOLDINGS BERHAD
Stock Name SERBADK
Date Announced 18 May 2022
Category General Announcement for PLC
Reference Number GA1-18052022-00064

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
SERBA DINAMIK HOLDINGS BERHAD ("SDHB" OR "THE COMPANY")
Update on Winding Up Petition served by HSBC Amanah Malaysia Berhad, Ambank Islamic Berhad, Bank Islam Malaysia Berhad, MIDF Amanah Investment Bank Berhad, Standard Chartered Saadiq Berhad and United Overseas Bank (Malaysia) Bhd (collectively, "Syndicated Lenders")

We refer to the Company’s announcements dated 29 April 2022 and 10 May 2022 (“Announcements”) respectively. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the Announcements.

 

The Board of Directors of the Company wishes to announce that the Company has filed an application to stay the hearing of the Winding Up Petitions and Interim Liquidator Applications (“Stay Application”) on, inter alia, the basis that the Company has on 13.5.2022 filed an application to seek leave from Court to convene a court-convened creditors meeting for its creditors (as referred to in the Company’s announcement dated 18.5.2022). The Company has also filed an application to strike out the Winding Up Petitions and to cross-examine the deponent of the Syndicated Lenders to, inter alia, ascertain the true intention of the Syndicated Lenders (“Application to Cross-Examine”). The Syndicated Lenders have on one hand prayed for the Company to be wound up and on the other hand, prayed for power to be given to the proposed interim liquidator to restructure the Company.

 

The Court has fixed the hearing of the Stay Application, Application to Cross-Examine and the Interim Liquidator Applications on 8 June 2022.

 

The Company will make further announcement as and when there are material developments on the above matter.

 

This announcement is dated 18 May 2022.






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