Friday 29 Mar 2024
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KUALA LUMPUR (June 7): MMC Corp Bhd's indirect subsidiary Kontena Nasional Bhd (KNB) was served a winding-up petition by Mewah Indah Resources (M) Sdn Bhd in respect of a judgment in default for RM5.4 million, with further interest.

The winding-up proceedings arose from the non-payment by KNB of the judgment sum. KNB disputes the debt and has taken steps to set aside the judgment in default. As such, it will be contesting the winding-up petition, MMC Corp told Bursa Malaysia in a filing today.

"The winding-up proceedings will not have any significant financial and operational impact on the MMC group for the financial year ending Dec 31, 2016. No material loss is expected to arise from the winding-up proceedings," it added.

MMC Corp's shares closed unchanged at RM2.15 today for a market capitalisation of RM6.54 billion.

 

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