7552 EVERMAS, EVERMASTER GROUP BHD
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Advertisement of Petition
5 Aug 2010, 08:08
Advertisement of Petition
EVERMASTER GROUP BERHAD (Receiver and Manager Appointed) (Evermaster or the
Company)
- Advertisement of Petition
The Company refer to the advertisement of winding up petition appearing in the
New Strait Times newspaper on Tuesday, 3 August 2010 pertaining to the winding
up petition on Evermaster Wood Products Sdn Bhd (Receiver and Manager
Appointed) (EWP), a wholly-owned subsidiary of the Company (Kuala Lumpur High
Court, Winding Up No. 28NCC-520-2010) and wish to announce that the details of
the said winding up petition are as following :-
1. Date of Presentation of Winding Up Petition and Date Winding Up Petition was
served.
The winding up petition against EWP was presented via Kuala Lumpur High Court
Winding Up No. 28NCC-520-2010 on 12 July 2010 by Abdallah Sayed Ismaeel Co.
(the Petitioner).
The Company wishes to announce that the date the winding-up petition was served
to EWP cannot be determined as EWP did not receive the said winding-up
petition. The winding-up petition came to Evermasters knowledge when the
advertisement of petition appeared on newspaper.
2. Particulars of Claim under the Winding Up Petition.
The Petitioner is alleging that EWP is indebted to the Petitioner for the sum
of RM1,635,000.00 (equivalent to USD$500,000.00 at the foreign exchange of
USD1 : RM3.270 as of 20.01.2010) and a further sum of RM821,500.00 (equivalent
to USD$250,000.00 at the foreign exchange of USD1 : RM3.286 as of 11.03.2010)
being the refund of deposit paid by the Petitioner to EWP pursuant to contract
entered by the Petitioner and EWP dated 14 January 2010 for the purchase of
plywood as described in the said contract on the basis of total failure of
consideration. EWP has dispute on the claim and instructed the solicitor to
strike out the winding up Petition.
3. Details of the Default or Circumstances leading to the filing of the Winding
Up Petition against VVB.
The circumstances leading to the filing of the winding-up petition against EWP
was due to the fact that the Company did not made the said payment in the sum
of RM1,635,000.00 (equivalent to USD$500,000.00 at the foreign exchange of
USD1 : RM3.270 as of 20.01.2010) and a further sum of RM821,500.00 (equivalent
to USD$250,000.00 at the foreign exchange of USD1 : RM3.286 as of 11.03.2010)
to the Petitioner as the said amount is in dispute.
4. Whether EWP is a Major Subsidiary
EWP is a major subsidiary of Evermaster.
5. Financial and Operational Impact Arising from the Winding Up Proceedings.
The winding-up petition has no financial and operational impact to the Group.
6. Expected losses arising from the winding up processing.
There will be no expected losses arising from the Petition.
7. Steps taken and proposed to be taken in respect of the winding-up
proceedings.
EWP has appointed solicitor to oppose or strike out the Petition.
This announcement is dated 4 August 2010.

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