Friday 29 Mar 2024
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KUALA LUMPUR (May 26): Sumatec Resources Bhd said it has been served with a winding-up petition by NFC Labuan Shipleasing Ltd, which is demanding a payment of US$13.06 million (RM53.07 million).

According to its bourse filing today, Sumatec said it was served the petition as it had issued a corporate guarantee for its former subsidiary, Semua Chemical Sdn Bhd.

Sumatec said it had leased two chemical ships (Semua Perdana and Semua Perkasa) from NFC in 2008, and that the lease was terminated in 2014.

"The petitioner has now claimed for various payments under the Perdana Bareboat Charter Agreement and Perkasa Bareboat Charter Agreement in the aggregate sum of US$6.38 million and US$6.69 million respectively," Sumatec said.

Sumatec said it had in 2008 issued a Deed of Guarantee and Indemnity to NFC for the bareboat charters of Semua Chemical.

Sumatec said it is contesting the amount claimed by the petitioner in the winding up petition.

"The expected losses, if any, arising from the winding-up petitions include the unsubstantiated claim amount of US$13.06 million," it said, adding it has proposed steps to be taken in respect of the winding-up proceedings.

The petition will be heard at the High Court on July 28.

Sumatec shares closed 0.5 sen or 4.35% lower at 11 sen, for a market value of RM425.27 million.

 

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