KUALA LUMPUR (Oct 21): Masterskill Education Group Bhd announced that its wholly-owned subsidiary Masterskill (M) Sdn Bhd (MMSB) has been served with a legal notice by security guard services provider Khidmat Jujur Sekuriti (M) Sdn Bhd, to pay a sum of RM317,169.60 the latter claimed it was owed.

In an announcement to Bursa Malaysia this evening, Masterskill said the notice — served by Khidmat Jujur’s solicitor — demands and requires MMSB to pay for security guard services valued at RM317,169.60, as at Oct 20.

“The notice served on MMSB is to demand payment of the sum within 21 days of receipt of the notice, failing which MMSB shall be deemed to be insolvent, and Khidmat Jujur shall have the right to proceed to wind-up MMSB in accordance with Section 218(1) (e) of the Companies Act, 1965,” the group said in a statement.

MMSB is Masterskill’s major operating subsidiary, which the latter’s cost of investment amounts to RM204.92 million.

According to Masterskill, the Notice is not envisaged to have financial or operational impact on the group.

“The loss, if any, is not expected to be material. MMSB will incur payment of the Sum arising from the Notice, should the said Sum be payable,” the group said, adding it has appointed solicitors to resolve and defend against this matter.