Ahmad Zaki Resources subsidiary gets three-month restraining order for debt scheme

Ahmad Zaki Sdn Bhd, a wholly-owned subsidiary of Ahmad Zaki Resources Bhd, has obtained a three-month High Court restraining order from Oct 21, 2026 to Jan 20, 2027 while it pursues a proposed scheme of arrangement with creditors. The court has fixed Dec 28 to hear the company's application for a co

PETALING JAYA (Oct 23): Ahmad Zaki Resources Bhd's wholly-owned subsidiary Ahmad Zaki Sdn Bhd (AZSB) has obtained a three-month High Court restraining order while pursuing a proposed scheme of arrangement with creditors. The order runs from Oct 21, 2026 to Jan 20, 2027. The court has fixed Dec 28 to hear AZSB's application for a convening order, theedgemalaysia.com reported, which cited AZRB's Bursa Malaysia filing on Friday (Oct 23).

The engineering and construction group said it did not expect the order to have any material adverse impact on its financial position or operations. The report also cited previous filings identifying AZSB as not being a major subsidiary of the group.

Separately, Bursa Malaysia Securities had publicly reprimanded AZRB on Sept 25 for failing to immediately disclose four winding-up petitions involving the company and its wholly-owned subsidiaries. According to theedgemalaysia.com's report on the reprimand, the petitions involved claims totalling about RM9.41 million. They were announced between May and July, with disclosure delays ranging from 10 to 50 days.

Bursa said ongoing negotiations with creditors did not remove the requirement to immediately disclose winding-up petitions. As at end-June 2026, AZRB had current liabilities of RM1.42 billion against current assets of RM698.73 million, leaving a working capital deficit of RM721.27 million.