The Board of Directors of THB wishes to announce that its wholly-owned subsidiary, Tomypak Flexible Packaging Sdn. Bhd. ("TFP"), had on 26 August 2026 received a winding-up petition ("Petition") filed by CLP Industries Sdn. Bhd. ("CLP" or "the Petitioner"). The Petition was served by Messrs S.R. Tan Cheng Lim & Tee ("the Solicitor") on behalf of CLP and is scheduled for hearing on 19 November 2026.
1. Date of Presentation and Service of the Petition
The Petition was presented to the High Court of Malaya at Shah Alam on 18 August 2026.
The Petition was forwarded under cover of a letter from the Solicitor acting for the Petitioner dated 24 August 2026 and was received by TFP on 26 August 2026.
2. Particulars of the Claim
The Petition arises from amounts owing by TFP to the Petitioner in respect of trade transactions.
Pursuant to a Consent Judgment dated 22 May 2026, TFP was liable to the Petitioner for the principal sum of RM833,414.85, together with interest at the rate of 5% per annum and costs of RM23,649.00.
A statutory notice dated 20 July 2026 subsequently stated that the amount outstanding as at the date thereof was RM872,705.14.
3. Circumstances Leading to the Filing of the Petition
The Petition arose following the outstanding amount remaining unpaid within the stipulated period under the statutory notice.
TFP has been managing its working capital requirements amid the operational and liquidity challenges previously disclosed by the Company.
The Company and TFP are presently engaging with the Petitioner with a view to reaching an amicable settlement of the outstanding amount and procuring the withdrawal of the Petition.
As at the date of this announcement, no winding-up order has been made against TFP.
4. Status of TFP as a Major Subsidiary
TFP is a wholly-owned subsidiary and a major subsidiary of THB as defined under the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
5. Total Cost of Investment in TFP
The total cost of investment by THB in TFP is RM137.7 million.
6. Financial and Operational Impact
As at the date of this announcement, the Petition has not resulted in the cessation of TFP's operations.
Subject to the outcome of the Petition and the Company's efforts to resolve the matter, the financial impact is presently expected to comprise principally the amount claimed under the Petition together with the applicable interest, costs and related legal expenses.
The Board is monitoring the situation closely and will continue to assess any further financial or operational impact on the Group.
7. Expected Losses Arising from the Petition
Save for the amount claimed under the Petition, applicable interest, costs and related legal expenses, the Company is presently unable to determine whether any additional losses will arise from the Petition.
8. Steps Taken and Proposed to be Taken
The Company and TFP are actively engaging with the Petitioner with a view to achieving an amicable settlement of the outstanding amount and procuring the withdrawal of the Petition.
The Group continues to pursue its ongoing capital and funding initiatives, including the private placement previously announced by the Company and approved by Bursa Malaysia Securities Berhad, to strengthen its working capital position and support its operational requirements.
The Company will make further announcements to Bursa Malaysia Securities Berhad as and when there are material developments in relation to the Petition in accordance with the Main Market Listing Requirements.
This announcement is dated 27 August 2026.