HO HUP CONSTRUCTION COMPANY BHD
FYI - Today's announcement by Ho Hup Construction Company Berhad
Type : Announcement
Subject : HO HUP CONSTRUCTION COMPANY BERHAD (“Ho Hup” or “the Company”) (Receivers and Managers Appointed)
- NOTICE OF APPOINTMENT OF RECEIVERS AND MANAGERS
Contents : The Board of Directors of Ho Hup wishes to announce that the Company has received a notice of appointment of Receivers and Managers dated 14 January 2009 for properties under the powers contained in a Debenture dated 15 September 2006 created in favour of Malayan Banking Berhad (“MBB”).
Ho Hup has a facility with MBB estimated to be RM8.5 million and the facility is secured with a fixed charge on a piece of industrial property and Debenture on machinery and equipment which the Board estimates collectively to be in excess of the loan amount.
Mr Michael Joseph Monteiro and Mr Heng Ji Keng of Messrs Ferrier Hodgson MH Sdn Bhd have been appointed as Receivers and Managers.
Ho Hup Construction Company Berhad, a company incorporated in Malaysia on 24 March 1973, with an authorised capital of RM200,000,000.00 divided into 200,000,000 ordinary shares of RM1.00 each and a paid-up capital of RM102,000,408.00 divided into 102,000,408 ordinary shares of RM1.00 each. The principal activities of the Company consist of foundation engineering, civil engineering, building contracting works and hire of plant and machinery.
The Company is seeking advice from its solicitors and also actively seeking an expedient resolution to this matter.
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