JUDGMENT

(Enclosures 1 & 7)

Nadzarin Wok Nordin J:

[1] The Petitioner herein has in encl 1 hereto applied to this Court to wind up the Respondent Company (Company) via a Winding Up Petition dated 24 August 2021 (Petition) filed pursuant to ss 465(1)(e) and 466(1)(a) and (2) of the Companies Act 2016 .

[2] The Petitioner had averred in its Petition that:

2.1 The indebtedness of the Company to your Petitioner is pursuant to a Settlement Agreement made on 22 October 2020 between your Petitioner and the Company ("SA") wherein the sum of RM7,138,000.00 ("the Outstanding Amount") is deemed to be owing to your Petitioner as a deduction of an one-off goodwill discount of RM250,000.00 ("the Goodwill Amount") from the sum of RM7,388,000.00 ("the Total Amount").

2.2 As of todate, the Company has failed, neglected and/or refused to pay the sum of RM700,000.00, being the payments for the months of February 2021 (in which RM200,000.00 out of the RM300,000.00 has been paid for by the Company) and March 2021.

2.3 The Company made a payment in the sum of RM50,000 to the Petitioner on 19.5/2021.

2.4 On the 30th day of April 2021, the Petitioner through its solicitors Messrs Shearn Delamore & Co, served upo