This is the end for Papparich in Malaysia – it has been ordered by the High Court of Malaya to wind up its business!
Papparich Group Ordered To Close By High Court!
Last year, shareholder Chen Khairy Voon and the investment holdings company Agathisfour filed separate Winding-Up Petitions against Papparich Group Sdn Bhd on 15 May 2020 and 22 May 2020 respectively, over alleged unpaid debts of RM37.22 million
Just over a year later, the High Court of Malaya in Shah Alam ordered Papparich Group Sdn Bhd (PGSB) to wind up its business on 5 May 2021.
Chan Siew Mei of KPMG Deal Advisory Sdn Bhd was appointed as the liquidator, as per The Business Times.
According to the public notice, the Winding-Up Petition was directed to be heard before the High Court of Malaya at 9 AM on 11 August 2021.
The public notice also called for any party looking to support or oppose the Petition for the Winding-Up of Papparich Malaysia to appear for the hearing.
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