21 Jul 2025
ECONPILE (M) SDN BHD ASM DEVELOPMENT (KL) SDN BHD PENCELAH 1. ) MUHAMMAD FIRDAUS BIN HASHIM 2. ) MOHD IKRAM BIN RAHIM 3. ) FOONG SOON FEI 4. ) WONG LI GINN 5. ) WONG CHIN YAP 6. ) TRANSVISION ENGINEERING SDN BHD PIHAK KETIGA Sundarasan Arum
- Citation
- WA-28JM-32-12/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28JM-32-12/2024 (Mahkamah Tinggi)
The court confirmed appointment of the interim judicial manager: Econpile established that ASM is unable to pay its debts (unsatisfied CIPAA judgments), presented a reasonable basis to 'consider' that rehabilitation is reasonably probable via preliminary proposals, there was a compelling prima facie case for a full JM, and cogent evidence of serious financial irregularities and risk of misapplication of assets in favour of related parties justified protective interim relief under s.405(5)(b).