KUALA LUMPUR (May 27): The High Court on Tuesday has ordered for the compulsory winding up of TH Heavy Engineering Bhd (THHE), as it allowed petitions from creditors Globalmariner Offshore Sdn Bhd, Boomslang Technology Sdn Bhd (previously known as Blackstone Technology Sdn Bhd), and Dynac Sdn Bhd.
Judge Atan Mustaffa Yussof Ahmad agreed with the petitioners that in the interests of corporate governance following multiple issues raised in the petitions, it was necessary for the court to consider compulsory winding up of the company, as opposed to voluntary winding up.
A voluntary winding up is initiated by the company, while a compulsory winding up is initiated by the court.
Atan Mustaffa noted that there were issues like questionable…
