Harvest Court Industries Berhad
| General
Announcement |
| Reference
No CC-090925-67486 |
| Company
Name |
: |
HARVEST
COURT INDUSTRIES BHD |
| Stock
Name |
: |
HARVEST |
| Date
Announced |
: |
25/09/2009 |
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| Type |
: |
Reply
to query |
| Reply
to Bursa Malaysia's Query Letter - Reference ID |
: |
NE-090924-42334 |
| Subject |
: |
HARVEST
COURT INDUSTRIES BERHAD (“HCIB” or “the
Company”)
- Advertisement of Petition Served on Harvest Lumber Sdn
Bhd (“HLSB”), a wholly-owned subsidiary of the
Company, by PTC Timber Sdn Bhd ("the
Petitioner")
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| Contents |
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The
Company refers to Bursa Malaysia Berhad’s letter dated
24.9.2009 pertaining to the advertisement in The Star
newspaper on Wednesday, 23rd September 2009 pertaining
to the winding up petition on Harvest Lumber Sdn Bhd
(“HLSB”), a wholly-owned subsidiary to HCIB [Kuala
Lumpur High Court, Winding Up No. D28-19-09] and wish to
announce that the details of the said winding up
petition are as follows:-
- Date of
presentation of winding up petition and the date of
the winding up petition was served
The winding up petition against HLSB was presented
via Kuala Lumpur High Court Winding Up No. D28-19-09
on 14th September 2009 by PTC Timber Sdn Bhd
("the Petitioner"). The Company or its
group did not receive a copy of the Petition.
- The particulars of
the claim under the winding-up petition, including
the amount claimed for under the petition and
interest rate
The winding-up petition was based on a claim
made by the Petitioner against HLSB under a written
notice pursuant to section 218 of the Companies Act,
1965 dated 30.06.2009 claiming the amount of
RM58,368.17 allegedly for goods sold and delivered
to HLSB. The amount claimed is without any interest
charged.
- The details of the
default or circumstances leading to the filing of
the winding up petition against HLSB
- The Petitioner has
alleged in the winding-up petition that HLSB has
failed to pay RM58,368.17. The Petitioner is now
seeking to wind up HLSB pursuant to Section 218
of the Companies Act, 1965.
- HLSB has on 22
September 2009 written to the solicitor for the
Petitioner denying any liability bearing
invoices and delivery orders per se.
- HLSB has disputed
the claim for the amount due is only RM17,974.98
instaed of RM 58,368.17
- The said petition
was filed on 14th September and that the same
has been set down for hearing on 2nd November
2009;
- Confirmation as to
whether HLSB is a major subsidiary of the Company
HLSB is a major
subsidiary of the Company.
- The total cost of
investment in HLSB
The total cost of
investment in HLSB was RM13,000,000.00.
- The financial and
operational impact of the winding-up proceedings on
the group
The winding-up proceedings have no financial and
operational impact on the group.
- Expected losses
arising from the winding-up proceedings
The expected loss arising from the winding-up
proceedings is RM27,974.98.
- The steps taken and
proposed to be taken in respect of the winding up
proceedings
HLSB will immediately file in the Notice of
Intention to Appear and Oppose the Petition followed
by the requisite affidavit in reply against the same
include the various debit notes issued to the
Petitioner which will form the crux of HLSB’s
defence against the said petition.
This announcement is
dated 25th September 2009. |
| Query
Letter content |
:
|
We
refer to the notice appearing in The Star, page 27,
Notices Section, on
Wednesday, 23 September 2009, a copy of which is
enclosed for your reference.
In this connection,
kindly furnish Bursa Securities immediately with the
additional information pursuant to Part C, Appendix 9A
of the Main Market
Listing Requirements for public release.
Yours faithfully
CHONG FUI TZY
Head, Issuers
Listing Division
Regulation
CFT/NAE
copy to:- Head, Market
Surveillance, Securities Commission(via fax) |
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