KUALA LUMPUR (July 26): Bertam Alliance Bhd’s unit Bertam Development Sdn Bhd (BDSB) has been served with statutory notice, demanding for payment in the sum of RM4.57 million as at July 25 this year and continuing interest at the rate of 7.65% per annum on RM4.11 million from July 26 until full and final realisation of the total sum due.

The statutory notice was served by Messrs. T G Lee & Associates, the solicitors acting on behalf of R & C Cergas Teguh Sdn Bhd, demanding for the payment as per the adjudicator decision dated Feb 19 this year.

A filing with Bursa said in the event BDSB failed to pay R & C Cergas Teguh at the expiration of twenty-one days from the date of the statutory notice served, BDSB will be deemed pursuant to Section 466(1)(a) of the Companies Act 2016 and the winding up proceedings will be commenced against BDSB. 

Bertam Alliance announced it will defend the proceedings and will contest any winding-up proceedings that may be initiated.

BDSB is a major subsidiary of Bertam Alliance and the group has invested about RM70 million into the company.

On July 10, Bertam Alliance has filed in the court of appeal against the adjudicator decision on Feb 19 and the case has been fixed for case management on Aug 7 this year.

As of 2.39pm, Bertam Alliance edged higher by 1.02% to 49.5 sen, with about 4,300 shares traded.