2 Dec 2021
1. TOP BUILDERS CAPITAL BERHAD (Reg. No.: 201301043050 (1072872-D)) 2. IKHMAS JAYA SDN. BHD. (Reg. No.: 199201022513 (254017-H)) 3. IKHMAS EQUIPMENT SDN. BHD. (Reg. No.: 199901020860 (495760-W)) 1. SENG LONG CONSTRUCTION & ENGINEERING SDN.
- Citation
- WA-24NCC-608-12/2020 (No. 2) (Mahkamah Tinggi)
- Court
- No. 2
- Case number
- WA-24NCC-608-12/2020 (No. 2) (Mahkamah Tinggi)
The Court sanctioned the three schemes because it found statutory requirements complied with, creditors were properly classified and fairly represented, disclosure was sufficient for commercial decision making, the adjudication and appeal mechanisms for PODs were adequate, virtual meetings were acceptable given COVID constraints, and the schemes provided materially better returns than liquidation; related‑party and intercompany votes were not discounted on the facts, and targeted audit orders were imposed to resolve specific disclosure uncertainties (Damai 88 units).