<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 20): Malaysia Pacific Corp Bhd (MP Corp) has been served with a winding-up petition by RHB Bank Bhd, demanding repayment of debt totalling RM118.16 million.</p></div>

<div class=newsTextDataWrapInner><p>The case management is fixed for tomorrow, MP Corp said in a stock exchange filing today.</p></div>

<div class=newsTextDataWrapInner><p>“The company will be seeking legal advice on the above and will make further announcement in due course,” it added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On June 14, 2016, MP Corp had received a notice of statutory demand from RHB Bank, seeking the repayment of the debt or risk winding-up petition proceedings taken against the company.</p></div>

<div class=newsTextDataWrapInner><p>The sum comprises RM43.64 million in revolving credit facilities, and two overdraft facilities amounting to RM74.52 million as at June 8, 2016.</p></div>

<div class=newsTextDataWrapInner><p>The bank is also demanding for interest to be calculated at 3.5% per annum, plus the base lending rate on monthly rest from June 9, 2016 onwards, until the date of full settlement.</p></div>

<div class=newsTextDataWrapInner><p>Additionally, it is seeking interest of 3% per annum on the principal sum of RM25.7 million, plus the cost of fund, to be calculated from June 9, 2016 until the date of full settlement.</p></div>

<div class=newsTextDataWrapInner><p>MP Corp’s shares were last traded at 12 sen, giving it a market capitalisation of RM34.52 million.</p></div>


KUALA LUMPUR (Feb 20): Malaysia Pacific Corp Bhd (MP Corp) has been served with a winding-up petition by RHB Bank Bhd, demanding repayment of debt totalling RM118.16 million.

The case management is fixed for tomorrow, MP Corp said in a stock exchange filing today.

“The company...

MP Corp gets winding-up petition from RHB Bank over RM118m debt

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<p><em><strong>More to come</strong></em></p>
...

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