Ramly Ali J:

[1] The petitioner filed the present petition against the respondent based on a notice dated 31 March 2005 issued under s. 218(2)(a) of the Companies Act 1965. The petition has sought to wind-up the respondent on the ground that the respondent is unable to pay its debts (under s. 18(1)(e)) and that it is just and equitable that the respondent company be wound-up (under s. 218(1)(f)). The petition is supported by another creditor, namely MBF Leasing Sdn. Bhd. based on a debt of RM334,881 owed by the respondent. The respondent does not appear to oppose the petition. The opposition to the petition comes from one Goh Koh Hwa, who is a contributory of the respondent "opposing contributory").

Undisputed Facts

[2] Prior to the presentation of the petition, the petitioner has, by notice dated 31 March 2005, made a demand against the respondent pursuant to s. 218(2)(a) of the Companies Act 1965.

[3] The demand was made for the sum of RM7,000,000, being the debt owed by the respondent to the petitioner, as acknowledged by the respondent in an agreement dated 7 September 2004 ('memorandum of agreement').

[4] The memorandum of agreement was a settlement agreement whereby