17 November 2022

Scomi Group Berhad in its filing with Bursa Malaysia announced that the Company’s solicitors will be filing the cause papers to obtain the Court’s sanction on the Proposed Scheme.

Zul Rafique & Partners’ Litigation Partner, Farah Shuhadah Razali, our Corporate/M&A Partner, David Lee together with our Associates, Nadiea Afiqah and Ng Ying Ci, working alongside Baker Tilly Insolvency PLT had advised Scomi Group Berhad (‘SGB’) in respect of its proposed scheme of arrangement which was put to a vote at a Court Convened Meeting (‘CCM’) on 15 November 2022.

Following the procurement of the order to convene the CCM and the restraining order from Court, SGB held its CCM and successfully obtained the approval of more than 95% majority of its creditors who voted in favour of the scheme of arrangement that was presented.

Our lawyers will continue to advise SGB in filing the cause papers to obtain the Court’s sanction on the Proposed Scheme as well as to prepare a regularisation plan for approval by Bursa Malaysia and for its implementation.

This case update was also featured in The Edge on 15 November 2022, HERE.

While the Bursa Announcement can be accessed, HERE.

For more insights into this area of law, please contact our Partners:
P Jayasingam
Wong Keat Ching
Thavaselvi Pararajasingam
Idza Hajar Ahmad Idzam
Farah Shuhadah Razali
Bailey Leong Pui Yee

Corporate/Mergers & Acquisitions:
Jerry Ong Kok Wah
Cathryn F L Chay
David Lee Lai Huat

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