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WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR ASIA POLY HOLDINGS BERHAD ("ASIAPOLY" OR "THE COMPANY") WINDING-UP PETITION SERVED ON ASIA POLY BIO GAS SDN. BHD., AN INDIRECT SUBSIDIARY OF THE COMPANY PURSUANT TO SECTION 465(1)(e) AND 466(1)(a) OF THE COMPANIES ACT 2016

ASIA POLY HOLDINGS BERHAD

Type Announcement
Subject WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATOR
Description
ASIA POLY HOLDINGS BERHAD ("ASIAPOLY" OR "THE COMPANY")
WINDING-UP PETITION SERVED ON ASIA POLY BIO GAS SDN. BHD., AN INDIRECT SUBSIDIARY OF THE COMPANY PURSUANT TO SECTION 465(1)(e) AND 466(1)(a) OF THE COMPANIES ACT 2016

We refer to the Company's announcement made on 29th December 2023 in relation to the winding-up petition served on Asia Poly Bio Gas Sdn. Bhd.(“APBGSB”), an indirect subsidiary of the Company pursuant to Section 465(1)(e) and 466(1)(a) of the Companies Act 2016 and we wish to provide the following additional information:-

 

The outstanding amount of RM5,034,207.35 owing by APBGSB to the Company being payment made for the development and construction of the biogas plant. The Board decided to cease the construction of the biogas plant to mitigate possible future losses in view of the conversion of the project land from agricultural land to industrial land has been prolonged and the conversion is uncertainty.     

 

Dated this 3rd day of January, 2024.

 

 






Announcement Info

Company Name ASIA POLY HOLDINGS BERHAD
Stock Name ASIAPLY
Date Announced 03 Jan 2024
Category General Announcement for PLC
Reference Number GA1-03012024-00013



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