JUDGMENT

Mah Weng Kwai JC:

(1) Brief Facts

1.1. On 17 February 2006 the petitioner obtained a judgment against the respondent and three others in Kuala Lumpur High Court Civil Suit No: D8-22-1313-2004 for the principal sum of RM1,538,239.26 together with interests and costs. As the respondent failed and/or refused to pay the judgment sum despite requests and demands made by the petitioner, the petitioner on 5 February 2010 served a notice pursuant to s. 218(2)(a) of the Companies Act 1965 (the Act) on the respondent at its registered address.

1.2. In the s. 218 notice, the petitioner demanded for payment of the principal sum of RM1,538,239.26 together with interests calculated up to 4 February 2010, less two payments received, thereby totalling RM2,826,207.06. As the respondent did not pay the said sum of RM2,826,207.06 or any part thereof within the stipulated 21 days, the respondent was deemed prima facie insolvent and unable to pay its debt.

1.3. On 10 March 2010 the petitioner filed the winding-up petition to wind-up the respondent pursuant to the s. 218 notice.

1.4. Prior to the filing of the present petition, the petitioner had on 10 March 2006 filed a winding-up petit