MAJU-TH SDN BHD PENCELAH LEMBAGA TABUNG HAJI
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Counsel (4)
Case Significance
MAJU-TH SDN BHD PENCELAH LEMBAGA TABUNG HAJI is a High Court (Mahkamah Tinggi) decision dated December 17, 2025 (citation: wa-28jm-8-03-2024). <p>Maju-TH Sdn Bhd, a joint venture property development company between ASM Development (51%) and Lembaga Tabung Haji (49%), applied for a judicial management order under section 405 of the Companies Act 2016, proposing a revised debt settlement plan involving the development of its RM59 million land asset. The court found that while the company was insolvent (meeting the first condition), it failed to meet the burden of proving that the objectives of survival as a going concern or better reali The case was decided by Suhendran Sockanathan. Counsel appearing: Nakeeran Kumar Kanthavel (counsel for applicant), Neo Chi Chyn (counsel for intervener).
Summary
Maju-TH Sdn Bhd, a joint venture property development company between ASM Development (51%) and Lembaga Tabung Haji (49%), applied for a judicial management order under section 405 of the Companies Act 2016, proposing a revised debt settlement plan involving the development of its RM59 million land asset. The court found that while the company was insolvent (meeting the first condition), it failed to meet the burden of proving that the objectives of survival as a going concern or better realisation of assets were likely to be achieved through judicial management. The petition was dismissed with costs of RM20,000, with the court noting the relationship between the joint venturers may have irretrievably broken down.
What was the outcome of MAJU-TH SDN BHD PENCELAH LEMBAGA TABUNG HAJI?
<p>Maju-TH Sdn Bhd, a joint venture property development company between ASM Development (51%) and Lembaga Tabung Haji (49%), applied for a judicial m...