The Board of Directors of the Company wishes to inform that Grand Dynamic Builders Sdn Bhd (“GDBSB”), a wholly-owned subsidiary of the Company, has been notified by its solicitors on 9 January 2024 that they were informed by DCSB’s solicitors that a creditor of DCSB namely, KCJP, had on 7 January 2024 filed an ex-parte application for a judicial management order to place DCSB under the judicial management of a judicial manager pursuant to Sections 404 and 405 of the Companies Act 2016.

KCJP is a subsidiary of KSK Group Berhad, while DCSB, a wholly-owned subsidiary of KSK Land Sdn Bhd (“KSKL”), and KSKL, in turn, is a wholly-owned subsidiary of KSK Group Berhad.

Based on the Originating Summons, GDBSB was informed that KCJP is seeking from the Court, amongst others, the following:

(a) DCSB shall remain under judicial management for a period of six (6) months from the date of the Court Order and during such period, no resolution shall be passed or order made for the winding-up of the Company; 

(b) no other proceedings and no execution or other legal process shall be commenced or continued against DCSB except with the consent of the Judicial Manager and with the leave of Court.

GDBSB shall consult its solicitors to explore the next steps.

Further announcements will be made to Bursa Malaysia Securities Berhad as and when there are material developments in relation thereof.


This announcement is dated 9 January 2024.