TH Heavy unit receives winding-up petition, RM688,728 claim

PETALING JAYA: TH Heavy Engineering Bhd’s (THHE) wholly-owned subsidiary O & G Works Sdn Bhd (OGW) has received a winding-up petition with a claim for RM688,728.23.
In a filing with Bursa Malaysia yesterday, the group said the winding-up petition was presented by UC Blasting & Painting Sdn Bhd with a RM688,728.23 claim for services rendered and supply of labour and consumables.
The winding-up petition was presented on Sept 19, 2016 to the High Court of Malaya at Kuala Lumpur. Case management is on Oct 5, 2016 and hearing on Nov 18, 2016.
THHE said the winding-up petition will not have any additional financial and operational impact on the group and, aside from the amount claimed, OGW is not expected to incur any further losses from the winding-up petition.
“OGW has sought for necessary legal advice on the matter with a view of defeating the petition altogether,” it said.
The group has received 10 winding-up petitions since July this year with claims amounting to over RM45 million.