The Board of Directors of JCB wishes to announce that Jerasia Fashion Sdn. Bhd. ("JFSB"), the wholly-owned subsidiary of the Company had on 6 August 2021 received a winding-up petitition dated 21 July 2021 and Affidavit Verifying Petition of Chin Weng Cheow and Lily Lim affirmed on 26 July 2021 served onto JFSB, by Ambank (M) Berhad.
Please refer to the attachment for further details.
e) The total cost of investment in JFSB is RM23,604,020.00. This amount has been fully written off as impairment losses in the 30 November 2020 audited accounts.
f) The financial and operational impact of the winding-up proceedings on the group The Winding-Up Petition no longer has any financial and operational impact on the Company as JFSB is winding down its business operations.
g) The expected losses, if any arising from the winding-up proceedings The Company is not expected to incur any further loss arising from the Winding-Up Petition.
h) The steps taken and proposed to be taken by the Company/JFSB in respect of the winding-up proceedings Upon receipt of the winding-up proceedings from AMB, the Company together with its solicitors had made representations and continued to actively engage with AMB and their solicitors to resolve this matter. The Company has finally received a formal letter from AMB dated 19th August 2021 confirming granting the Company an indulgence of time of up to 4th November 2021 to facilitate the completion of the Company’s proposed corporate exercise which involves a capital raising exercise via rights issue and private placement of shares wherein part of the proceeds will be applied to partially pare down the bank borrowings with lenders on a pari-passu basis which includes AMB.
8931 JERASIA, JERASIA CAPITAL BHD - + JERASIA - DE-LISTING OF THE ENTIRE ISSUED SHARE CAPITAL OF JERASIA 21 Aug 2023, 11:08 JERASIA - DE-LISTING OF THE ENTIRE ISSUED SHARE CAPITAL OF JERASIA JERASIA - DE-LISTING OF THE ENTIRE ISSUED SHARE CAPITAL OF JERASIA ILC-21082023-00011 Kindly be advised that the entire issued share capital of JERASIA will be removed from the Official List of Bursa Malaysia Securities Berhad with effect from 9.00 a.m., Thursday, 24 August 2023 pursuant to paragraph 16.11(2)(d)(ii) of the Main Market Listing Requirements. Kindly refer to the Company's announcements dated 12 April 2023, 13 April 2023 and 14 April 2023. VP, Issuers You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
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Posted by wongchin > 2021-08-20 15:20 | Report Abuse
Up like a roket. Bt down also like a stall car without hand brek. Hehe