KUALA LUMPUR (Sept 17): Construction company Taghill Holdings Bhd (KL:TAGHILL) said its wholly-owned subsidiary Siab Construction Sdn Bhd has been placed under interim judicial management by the High Court.
The interim judicial management order had been sought by Siab Construction to address its financial position and cash flow constraints.
In a bourse filing on Thursday, Taghill said the court appointed Baltasar Maskor as the interim judicial manager for Siab Construction. Baltasar is a registered Malaysian accountant, certified auditor and court-appointed corporate liquidator.
Additionally, the court paused all creditor actions against Siab Construction by enforcing the moratorium under Section 411 of the Companies Act 2016.
The court fixed Nov 18 to decide whether the judicial management should continue.
Taghill said it is in the process of obtaining the sealed order and full terms of the interim arrangement.
An interim judicial management order means the court has temporarily placed a company under outside management while it decides whether full judicial management should continue.
In this process, the company is given legal protection from creditors and an independent manager appointed by the court takes over operations, allowing the business time to reorganise its debts and stabilise its finances instead of being forced into liquidation.
Another Taghil subsidiary, Siab (M) Sdn Bhd, had also filed for judicial management in November 2025, but there has been no update so far on its application.
Taghill previously said both subsidiaries made up less than a quarter of its assets and stressed that the firms were not expected to materially affect overall performance.
Shares of Taghill closed unchanged at seven sen on Thursday, valuing the company at RM108.9 million.