Brief Facts Of The Case

[1] Bina Puri Sdn Bhd ("the petitioner") obtained an Adjudication Award dated 31 December 2016 ("Adjudication Award") against Likas Bay Precinct Sdn Bhd ("the respondent") in the matter of an adjudication conducted pursuant to the Kuala Lumpur Regional Centre for Arbitration Rules ("KLRCA Rules") and Construction Industry Payment and Adjudication Act 2012 ("CIPAA 2012") for the certified sums amounting to RM16,439,628.24.

[2] The petitioner served a Statutory Notice of Demand dated 31 January 2017 ("the Statutory Notice") pursuant to s 465 of the Companies Act 2016 (" CA 2016") together with its letter dated 31 January 2017 on the respondent at its registered office in Kota Kinabalu.

[3] The petitioner further stated that as at the date of the Petition, the respondent has neglected and/or failed to pay or satisfy the Adjudicated Sum or any part thereof or to secure or compound for it to the reasonable satisfaction of the petitioner.

[4] Consequently, the petitioner presented this Petition dated 17 March 2017 to wind up the respondent pursuant to s 465(1)(e) and (h) of the Companies Act 2016 , ie, on the ground that the res