(Enclosure 121)

Awang Armadajaya Awang Mahmud JC:

Introduction

[1] This is an application by way of an application pursuant to ss 232(1) and 305 Companies Act 1965 (encl 121) which is supported by the affidavit-in-support (Enclosure 122).

[2] The prayers sought for are as follows:

i. That Ng Peak Yam @ Ng Pyak Yeow and Venkiteswaran Sankar be dismissed as co-liquidators for Tradelift Indopalm Industries pursuant to s 232(1) Companies Act 1965 .

ii. Pursuant to prayer (i), Dato Heng Ji Keng and Andrew Heng are to be appointed as co-liquidators, jointly and severally for Tradelift Indopalm Industries to replace Ng Peak Yam @ Ng Pyak Yeow and Venkiteswaran Sankar.

iii. In the alternative, the Official Receiver be appointed liquidators for Tradelift Indopalm Industries to replace Ng Peak Yam @ Ng Pyak Yeow and Venkiteswaran Sankar.

iv. Further to that, upon the removal of the co-liquidators Ng Peak Yam @ Ng Pyak Yeow and Venkiteswaran Sankar must return all assets, books, accounts, relevant documents, papers, records belonging to or concerning Tradelift Indopalm Industries that are in the possession and / or control to the newly appointed liquidators within 7 days of the removal of