This article first appeared in The Edge Malaysia Weekly on April 27, 2026 – May 3, 2026
NOTICES of winding up petitions against companies have long been treated as obituaries — a sign that the business is insolvent and headed for shutdown. However, that is not necessarily the case as the current legal framework offers an avenue for troubled companies to “take a breather” and recalibrate.
The real risk is not just that businesses are not doing well, but that business owners wait too long to get help, according to Kumarakuru Jai Prakash Krishnan, managing partner of corporate recovery and restructuring at Baker Tilly Insolvency PLT.
“When people hear the word ‘insolvency’, many think of failure or collapse. That had always…