PRG Holdings Berhad, the controlling shareholder of Feini Holdings (08480), filed a winding-up petition

Zhitong Finance App News, Feini Holdings (08480) issued an announcement. PRG Holdings Berhad (controlling shareholder), the controlling shareholder of the Company, published an announcement on the winding-up petition (the petition) against it on July 24, 2026.

According to the controlling shareholder's announcement, the petition was filed by counsel representing Mr. Ng Yan Cheng (petitioner) in the High Court of Malaysia. As disclosed in the controlling shareholder's announcement, the petition was filed under Malaysia's 2016 Companies Act in relation to the alleged failure of the controlling shareholder to pay RM21.219 million due and owed to the petitioner. Details are set out in the statutory debt repayment statement delivered in accordance with section 466 (1) (a) of Malaysia's 2016 Companies Act. The petition sought (among others) an order to liquidate the controlling shareholder and appoint the liquidator as the controlling shareholder's liquidator.

As the controlling shareholder's announcement further revealed, the controlling shareholder and petitioner failed to reach a mutually agreed settlement on the debts related to the restructuring, and the controlling shareholder has appointed professional advisors to discuss the restructuring plan.

The petitioner is the principal shareholder of the controlling shareholder, the father of Mr. Ng Tzee Penn (non-executive director) and the father-in-law of Mr. Andrew Chan Lim-Fai (executive director). According to the petitioner's rights disclosure form submitted on August 29, 2024 in connection with the incident that occurred on August 28, 2024, the petitioner had an interest in 666.936 million shares of the Company, accounting for approximately 7.22% of the Company's issued share capital.

At the date of this announcement, the controlling shareholder had an interest in 625 million shares of the Company, accounting for approximately 67.72% of the Company's issued share capital. The Company was advised that no such shares were pledged to the petitioner.

The controlling shareholder is a legal entity separate from the Company and the Group. As of the date of this announcement, the petition was not directed against any member company of the Group, and the Group's business operations remained normal.

As the petition may have an impact on the Company's shareholding structure and control, the Board believes that the petition constitutes inside information about the Company.

The Company is closely monitoring developments, including changes in the price and trading volume of the Company's shares, and will issue separate announcements in due course.