VISTASIK SDN BHD v PROPEL SYNERGY SDN BHD PENCELAH 1. ) IT MAX ENGINEERING SDN. BHD. 2. ) LUCKSOON METAL WORKS SDN BHD 3. ) AM FOCUS PLUMBING SDN BHD 4. ) ISOTECHNIC ELECTRICAL SDN. BHD 5. ) Puah Thiam Heng 6. ) Pua Kok Chuan 7. ) THE SOLID KITCHEN MANUFACTURING SDN BHD 8. ) BME TENAGA ARUS SDN BHD
wa-28ncc-370-04-2023 High Court (Mahkamah Tinggi) 31 March 2026 • WA-28NCC-370-04/2023 • 15 min read
10 cases cited
(0 SG, 10 foreign)
Catchwords
COMPANIES – WINDING-UP PETITION – Unless Order – Instalment Payment Arrangement – Court’s Discretion – Respondent admitted debt arising from arbitration award and court orders – Application for payment of petition debt exceeding RM30 million by instalments – Whether Court has jurisdiction under sections 469(1)(c) and 469(3) Companies Act 2016 to grant unless order – Whether admission of inability to pay lump sum constituted commercial insolvency fatal to application – Whether wishes of petitioner’s creditors fettered Court’s discretion – Whether winding-up should be ordered where respondent remained profitable going concern – Whether winding-up remedy of last resort – Whether interests of justice favoured structured repayment with automatic winding-up upon default. Companies Act 2016, ss 465(1)(e), 469(1)(c), 469(3), 477, 487(2), 521
Judges (1)
Counsel (10)
Chuah Qian & Partners Firm Dennis Nik & Wong Firm Wilson Lim and Arbain & Co. Firm Chuah Chern Tee Counsel Intervener Foong Kar Yee Counsel Respondent Goik Kenwayne Counsel Respondent Huam Wan Ying Counsel Petitioner Low Han Shin Counsel Intervener Tan Chee Qian Counsel Intervener Wilson Lim Mao Shen Counsel Petitioner
Parties (10)
AM FOCUS PLUMBING Sdn Bhd Intervener BME TENAGA ARUS Sdn Bhd Intervener ISOTECHNIC ELECTRICAL Sdn Bhd Intervener IT MAX ENGINEERING Sdn Bhd Intervener LUCKSOON METAL WORKS Sdn Bhd Intervener PROPEL SYNERGY Sdn Bhd Respondent THE SOLID KITCHEN MANUFACTURING Sdn Bhd Intervener VISTASIK Sdn Bhd Petitioner Pua Kok Chuan Intervener Puah Thiam Heng Intervener
Statutes Cited
Companies Act 2016 (Cap 777)
Courts of Judicature Act 1964 (Cap 91)
Cases Cited (10)
MY (10)
[1986] 1 MLJ 494 [1996] 2 MLJ 666 [1997] 2 CLJ 104 [2000] 2 MLJ 29 [2007] 5 MLJ 501 [2009] 6 CLJ 405 [2018] 2 MLJ 133 [2019] 4 MLJ 747 [2021] 2 MLJ 514 [2023] MLJU 1486
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-28ncc-370-04-2023)