KUALA LUMPUR (July 3): Boustead Holdings Bhd said its subsidiary Boustead Naval Shipyard Sdn Bhd (BNS) has been served with a winding up petition over an alleged debt of RM56.04 million.

In a filing today, the group said the petition dated today was served by MTU Services (Malaysia) Sdn Bhd.

“MTU alleges that BNS is indebted to them for the total sum of RM56.04 million for the equipment supplied and services provided to BNS,” Boustead said.

“BNS is currently reviewing the details of the winding-up petition and in the midst of engaging solicitors to act on its behalf in this matter.

“It is relevant to note that the petitioner did not obtain any judgment from the court on the amount allegedly due and owing to them,” the group added. 

Boustead said the petition is fixed for case management on Jan 7, and for hearing on Feb 10 next year.

“BNS is currently assessing the impact on the group, financially and operationally, of the petition,” it added.

The serving of the petition on BNS was also announced in a separate filing by Boustead Heavy Industries Corporation Bhd, which described BNS as a major associate company.

Boustead’s share price closed two sen or 3.48% higher at 60 sen today, valuing the company at RM1.2 billion.

Boustead Heavy Industries, meanwhile, closed one sen or 0.69% lower at 72 sen, for a market capitalisation of RM178.9 million.