KUALA LUMPUR (Feb 3): Mudajaya Group Bhd (KL:MUDAJYA) said the High Court has allowed its winding-up petition against THB Power Sdn Bhd after the independent power producer again failed to make the final tranche of payment totalling RM27.9 million with interest. This marks the second instance THB Power has missed the same final tranche, after the company failed to meet the earlier Aug 29, 2025 deadline. In a filing with Bursa Malaysia on Tuesday, Mudajaya said the court delivered its decision last Wednesday and allowed the winding-up petition, following which THB Power filed both a notice of appeal at the Court of Appeal and an application to stay the winding-up order. The winding-up petition followed an adjudication decision in April 2024 and a supplemental settlement agreement in October 2024, though specific details of these were not disclosed. The group said aside from the non-receipt of the final RM27.9 million tranche, no further financial impact is expected at this juncture.

Source: The Edge Markets February 03, 2026 10:51 UTC