KUALA LUMPUR (April 20): Jerasia Capital Bhd's wholly-owned subsidiary Canteran Apparel Sdn Bhd (CASB) has received a winding-up petition from RHB Bank Bhd over unpaid debts amounting to RM28.81 million.
The apparel manufacturer and fashion retailer said case management via e-review and hearing for the winding-up petition have been fixed for June 15 and Nov 21 respectively by the Kuala Lumpur High Court.
“Jerasia is seeking the necessary legal advice to resolve or defend against this matter,” the group said in a bourse filing on Thursday (April 20).
The group said it faces no operational impact despite the winding-up petition.
On March 29, Jerasia itself was ordered to be wound up by the Shah Alam High Court for failing to pay some RM24 million owed to Ambank (M) Bhd.
Due to this winding-up order, trading in the shares of Jerasia will be suspended from April 25 until further notice.
Jerasia has said that its board of directors is still engaging with AmBank for an amicable conclusion before appealing the winding-up petition.
Last month, directors of a unit of Jerasia were ordered by the Kuala Lumpur High Court to pay employees’ unpaid Employees Provident Fund contributions, dividends and late payment charges.
Jerasia said the court ordered wholly-owned subsidiary Jerasia Fashion Sdn Bhd’s three directors at the material time to pay remaining EPF contributions of employees totalling RM2.42 million
Jerasia had triggered the Practice Note 17 criteria on Jan 31, 2022 as its shareholders’ equity on a consolidated basis was 25% or less than its share capital.
On Thursday, Jerasia shares were traded unchanged at half a sen. The counter has plunged 90% since it announced its winding-up order on April 12.
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