Perbadanan Kemajuan Negeri Selangor (PKNS) Tinta Anggun Engineering Sdn. Bhd (In Liquidation) PENCELAH NG YIN MENG PIHAK TERKILAN MAYBANK ISLAMIC BERHAD

Perbadanan Kemajuan Negeri Selangor (PKNS) Tinta Anggun Engineering Sdn. Bhd (In Liquidation) PENCELAH NG YIN MENG PIHAK TERKILAN MAYBANK ISLAMIC BERHAD

Having regard to post‑hearing creditor sentiment (withdrawal of Maybank's opposition), the predominance of creditor support by value, the substantial unexplained diminution of assets, material discrepancies in the Statement of Affairs and OR report, and the project's complexity requiring specialist rehabilitation and forensic skills, the Court exercised its discretion under the Companies Act 2016 to substitute the Official Receiver with the nominated private liquidator to better protect the interests of creditors, purchasers and other stakeholders, subject to a Committee of Inspection and Court supervision.

Citation
WA-28PW-389-06/2024 (Mahkamah Tinggi)
Parties
Applicant (creditor): Perbadanan Kemajuan Negeri Selangor; Company (in Liquidation): Tinta Anggun Engineering Sdn Bhd (In Liquidation); Respondent (official Receiver): Official Receiver of Malaysia (Jabatan Insolvensi Malaysia); Contributory: Marvellous Courtyard Sdn Bhd; Contributory: Ng Yin Meng; Creditor / Aggrieved Party: Malayan Banking Berhad (Maybank Islamic Berhad); Proposed Private Liquidator (appointed): Dato' Raveendra Kumar a/l Nathan
Court
High Court
Jurisdiction
Malaysia
Judgment Date
1 July 2025
Case Number
WA-28PW-389-06/2024 (Mahkamah Tinggi)
Procedural Posture
Companies (winding‑up) / Application to Substitute Official Receiver With Private Liquidator Under Companies Act 2016 / Post‑winding Up Application Under S482; Hearing and Judgment on Appointment of Private Liquidator
Outcome
Application allowed; private liquidator appointed in place of the Official Receiver; leave granted; no order as to costs.
Legal Topics
Appointment of Liquidator, Substitution of Official Receiver, Creditors' Voting Weight, Committee of Inspection, Forensic Investigation and Asset Tracing
Source Language
Malay/English
Company Law Insolvency Law Civil Procedure Appointment of Liquidator Substitution of Official Receiver Creditors' Voting Weight Committee of Inspection Forensic Investigation and Asset Tracing

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 8 Party arguments 2 Amounts and remedies 10
Sign in to unlock

Parties

Perbadanan Kemajuan Negeri Selangor

Applicant (creditor)

Tinta Anggun Engineering Sdn Bhd (In Liquidation)

Company (in Liquidation)

Official Receiver of Malaysia (Jabatan Insolvensi Malaysia)

Respondent (official Receiver)

Marvellous Courtyard Sdn Bhd

Contributory

Ng Yin Meng

Contributory

Malayan Banking Berhad (Maybank Islamic Berhad)

Creditor / Aggrieved Party

Dato' Raveendra Kumar a/l Nathan

Proposed Private Liquidator (appointed)

Procedural Posture

Companies (winding‑up) / Application to Substitute Official Receiver With Private Liquidator Under Companies Act 2016 / Post‑winding Up Application Under S482; Hearing and Judgment on Appointment of Private Liquidator

Legal Issues

  1. 1 What is the source and test for appointing a private liquidator in place of the Official Receiver?
  2. 2 What weight should the Court give to creditors' wishes in appointing a liquidator?
  3. 3 Whether substitution of the Official Receiver with a named private liquidator is in the interests of the liquidation and stakeholders given project complexity and asset discrepancies.

Ratio Decidendi

Having regard to post‑hearing creditor sentiment (withdrawal of Maybank's opposition), the predominance of creditor support by value, the substantial unexplained diminution of assets, material discrepancies in the Statement of Affairs and OR report, and the project's complexity requiring specialist rehabilitation and forensic skills, the Court exercised its discretion under the Companies Act 2016 to substitute the Official Receiver with the nominated private liquidator to better protect the interests of creditors, purchasers and other stakeholders, subject to a Committee of Inspection and Court supervision.

Court Disposition

Application allowed; private liquidator appointed in place of the Official Receiver; leave granted; no order as to costs.

Orders

  • Applicant granted leave to make the application
  • Dato' Raveendra Kumar a/l Nathan of RKN & Co appointed liquidator of Tinta Anggun Engineering Sdn Bhd (In Liquidation) (Company No. 200301014609 (617029-X)) in place of and substituting the Official Receiver of Malaysia