KUALA LUMPUR (Nov 3): Sentoria Group Bhd announced that MBSB Bank Bhd had filed winding-up petitions against the company and its wholly owned unit Sentoria Bina Sdn Bhd (SBSB) over a judgement debt of RM303,268.39, which comes with a late payment charge of 1% per annum.
The judgement debt follows the decision by the Kuala Lumpur Session Court for the settlement of outstanding of the hire purchase-i (Al-ljarah Thumma Al-Bai) (non scheduled goods) facility (AITAB facility) granted by MBSB Bank to SBSB for the purposes of hiring of machinery and equipment related to SBSB's business.
Sentoria has provided corporate guarantee on the AITAB facility, the group showed in a filing with the local bourse on Friday.
The winding-up petitions were filed by MBSB Bank in the Shah Alam High Court, and have been fixed for case management on Sept 19 and Nov 9 respectively by way of e-review.
Meanwhile, the hearing of the winding-up petitions has been fixed for Nov 16, 2023 and Jan 18, 2024 respectively.
Except for the legal fees and disbursements involved to challenge and oppose the winding-up petitions, Sentoria does not expect any material impact on the financial and operational of the company arising thereon.
It added that the company is not expecting any further loss arising from the winding-up petitions.
Meanwhile, the company said it is seeking legal advice to resolve and defend against this matter vigorously.
At Friday's noon market break, Sentoria's share price was unchanged at 7.5 sen, translating into a market capitalisation of RM47 million for the group.