Reference is made to the Company's announcement dated 23 September 2024 in relation to the winding-up petition filed by Lean Xing Construction Sdn. Bhd. ("Lean Xing" or "the Petitioner") [Registration No. 201301005662 (1035505-H)] against Country Heights Smart Living Sdn. Bhd. ("CHSL" or "the Respondent"), formerly known as College Heights Utara Sdn. Bhd [Registration No. 199301019891 (274629-U)].
The Board of Directors of Country Heights Holdings Berhad ("CHHB" or "the Company") wishes to announce that the High Court of Malaya at Shah Alam had on 18 June 2026 delivered its decision in respect of the above-said winding-up petition bearing Petition No. BA-28NCC-548-09/2024.
The Court allowed the Petition and ordered that CHSL be wound up pursuant to the Companies Act 2016.
The Court has delivered the decision for winding-up and the Company is currently in the process of obtaining the sealed Court Order and advice from its solicitors on the implications of the decision and the available legal options, including the filing of an appeal against the decision of the Court.
The details of the Petition are set out below:
(a) Date of Presentation of the Petition
The Petition dated 5 September 2024 was presented by the solicitors acting for Lean Xing Construction Sdn. Bhd. and was served on CHSL on 12 September 2024.
(b) Particulars of the Claim / Details of Circumstances Leading to the Filing of the Petition
The Petition arose from CHSL's alleged failure to comply with a statutory demand issued pursuant to Section 466(1)(a) of the Companies Act 2016 for the sum of RM3,115,198.38.
The statutory demand was premised on an Adjudication Decision dated 10 June 2024 obtained by the Petitioner under the Construction Industry Payment and Adjudication Act 2012 ("CIPAA")
in connection with construction works carried out by the Petitioner for a residential development project located in Kubang Pasu, Kedah Darul Aman.
The amount claimed under the statutory demand comprises the adjudicated sum of RM2,609,173.17 together with accrued interest and adjudication-related costs as at 17 July 2024.
The Petitioner is seeking, among others, the following orders:
1. That CHSL be wound up pursuant to the provisions of the Companies Act 2016;
2. That the Official Receiver or such other qualified person be appointed as liquidator of CHSL;
3. That the Petitioner be allowed their costs and incidental to the winding-up to be taxed by the proper officer of the Court and paid by the Liquidator out of the assets of the Respondent;
4. That the Petitioner be at liberty to apply for any other further orders and/or reliefs from the Honorable Court; and
5. Or that such other Order may be made in the premises as the Court deems just.
(c) Financial and Operational Impact of the Petition on the Group and Expected Losses, if Any
CHSL is not a major subsidiary of CHHB. Accordingly, CHHB and its subsidiaries (collectively, the "Group") do not anticipate any material operational impact arising from the Court's decision.
The total investment cost incurred by CHHB in CHSL is approximately RM2.85 million.
The Board further notes that CHSL existing assets is more than sufficient against the claims made by the Petitioner.
(d) Steps Taken and Proposed to be Taken in Respect of the Petition
CHSL has engaged with legal counsel and is obtaining legal advice in relation to the Petition and the underlying adjudication proceedings.
The Company will continue to assess all available legal avenues and take such measures as may be necessary to safeguard the interests of CHSL and the Group, which also include settlement with the Petitioner.
The financial and operational impact arising from the Court's decision is currently being assessed by the Company.
The Company will make the requisite announcement(s) on any material developments relating to the Petition in compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
This announcement is dated 19 June 2026.