KUALA LUMPUR (April 14): Paos Holdings Bhd (KL:PAOS) said its wholly owned subsidiary Paos Industries Sdn Bhd has lodged a proof of debt amounting to RM16.1 million with the liquidator of Nikmat Mujur Sdn Bhd.

In a filing with Bursa Malaysia, the group said the proof of debt was submitted on Tuesday in relation to outstanding trade receivables owed by Nikmat Mujur, a petroleum retail company.

Paos Holdings said the recovery of the amount is subject to the availability of funds from the liquidation estate and the priority of creditor claims, and there is no assurance that the sum will be recovered.

The company thus cannot guarantee that it will recover the full amount, which would affect the outstanding balance in its financial statements for the financial year ended May 31, 2026.

It added that the proposed impairment is expected to reduce group earnings and lower net assets per share by 8.89 sen.

For the second quarter ended May 31, 2026, Paos' net loss widened to RM1.61 million from RM1.29 million a year earlier. Revenue plunged 94% to RM9.06 million from RM149.28 million.

Paos Holdings shares closed unchanged at 31 sen, giving the group a market capitalisation of RM56.2 million. Over a year, the stock has been up by 24%.