MATERIAL LITIGATION WINDING UP PETITION IN RESPECT OF A CLAIM AGAINST PBJV GROUP SDN. BHD. MADE BY EUREKA EFEKTIF SDN. BHD.
| BARAKAH OFFSHORE PETROLEUM BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | WINDING UP PETITION IN RESPECT OF A CLAIM AGAINST PBJV GROUP SDN. BHD. MADE BY EUREKA EFEKTIF SDN. BHD. |
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The Company wishes to inform that on 7 November 2019, its wholly-owned subsidiary, PBJV Group Sdn. Bhd. (“PBJV”) had received a Petition for Winding Up dated 25 October 2019 from Eureka Efektif Sdn. Bhd. (“Eureka”) one of its creditors. An amount of RM1,706,471.40 as at 25.10.2019 has been stated in the said Petition being alleged total amount due and owing by PBJV to Eureka.
The Company is still in the midst of formulating a plan to regularise its financial conditions that will include proposals to address this issue.
The Company believes that the petition has no material adverse impact on the business of the company.
The Company will make announcement on further development of the above matter in due course.
This announcement is dated on 7 November 2019. |
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Announcement Info
| Company Name | BARAKAH OFFSHORE PETROLEUM BERHAD |
| Stock Name | BARAKAH |
| Date Announced | 07 Nov 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07112019-00059 |