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The extension order was granted by Justice Datuk Azmi Ariffin at the Shah Alam High Court today. The three subsidiaries are Scomi Oiltools Sdn Bhd, Scomi KMC Sdn Bhd and KMCOB Capital Bhd (KMCOB). The court also granted an extension of time of 60 days for the judicial manager to send a statement of his proposal to the Registrar of Companies and to all creditors of the affected companies. The order also allows the manager to lay the statement of proposal before a meeting of the affected companies’ creditors, Scomi Energy said in a filing with Bursa Malaysia. Lawyers Lee Shih and Pang Huey Lynn from Messrs Lim Chee Wee Partnership appeared for the judicial manager in today’s court proceedings. ....
KUALA LUMPUR (Jan 7): The High Court in Melaka has approved the scheme of arrangement between MDSA Ventures Sdn Bhd a subsidiary of Singapore-listed Hatten Land Ltd, and its creditors. Judicial Commissioner Maidzura Mohammed granted a sanction order to the company, after being told that the scheme was approved by 96% of the total value of the creditors present and voting in person or by proxy at a creditors’ meeting on Dec 18. “The court grants the sanction order to approve the proposed scheme of arrangement and the debt restructuring of MDSA Ventures,” the court ruled yesterday. Counsel Lee Shih of Lim Chee Wee Partnership appeared for MDSA Ventures. ....