KUALA LUMPUR (Oct 2): Country Heights Holdings Bhd (KL:CHHB) said its 80.90%-owned subsidiary Golden Horse Palace Bhd (GHPB) has been served with a winding-up petition over two outstanding Industrial Court awards.
GHPB operates the luxury Palace of the Golden Horses hotel at The Mines. It is a major subsidiary of Country Heights, in which the group’s total investment stands at about RM219 million.
The petition was filed by Josita Ket Kang En @ Karlen at the High Court of Malaya in Shah Alam on Sept 22 and served on GHPB on Oct 1, according to Country Heights’ bourse filing on Friday.
Country Heights said the claim arose from two Industrial Court awards obtained by the petitioner against GHPB, with the amount claimed totalling RM312,653.
This comprises a judgement sum of RM279,510 as at Feb 27, 2025, and RM33,143 in interest at 8% per annum from March 30, 2025 to Sept 22, 2026. Interest continues to accrue at RM62.26 per day after Sept 22, 2026.
The petition is fixed for hearing on Dec 8, 2026.
The petitioner had earlier served GHPB with a statutory demand on July 21, demanding settlement of the outstanding sum or that the debt be secured or compounded within 21 days. GHPB failed to pay, secure or compound the amount within the prescribed period, according to the petition.
Country Heights said GHPB is seeking legal advice and considering the appropriate steps to protect its interests.
It said the petition is not expected to have any immediate material operational impact on the company at this juncture.
Shares of Country Heights were unchanged at 13.5 sen at Friday’s midday break, giving the company a market capitalisation of RM44 million.