CR Construction’s Malaysian Unit Seeks to Overturn Winding-Up Order After Debt Settlement

CR Construction Group Holdings Limited ( (HK:1582) ) has provided an announcement.

CR Construction Group Holdings Limited has disclosed that its indirectly wholly owned Malaysian subsidiary, CR Sea (Malaysia) Sdn Bhd, is subject to a winding-up order issued by the High Court of Malaya over an unpaid subcontractor debt relating to aluminium formwork, initially amounting to RM913,707.43. Despite reaching successive settlement arrangements and fully paying a final agreed settlement sum of RM551,556.97 to the subcontractor, CR Sea is now seeking to have the winding-up order terminated and has applied for an ad interim stay, which, if granted, would suspend the order, allow the company to resume normal operations, freeze the liquidator’s powers and mitigate immediate business and contractual risks while the court considers the substantive challenge. The matter has been redirected to the judge who originally granted the winding-up order, and CR Sea intends to pursue termination of the order at a scheduled hearing in early January 2026, underscoring ongoing legal uncertainty but also management’s efforts to preserve the subsidiary’s operational continuity and enterprise value.

The most recent analyst rating on (HK:1582) stock is a Hold with a HK$0.39 price target. To see the full list of analyst forecasts on CR Construction Group Holdings Limited stock, see the HK:1582 Stock Forecast page.

More about CR Construction Group Holdings Limited

CR Construction Group Holdings Limited is a Hong Kong-listed construction group engaged in building and civil engineering works, operating through various subsidiaries including overseas units such as CR Sea (Malaysia) Sdn Bhd, which participates in subcontracting and construction-related supply arrangements in Malaysia.

Average Trading Volume: 531,342

Technical Sentiment Signal: Sell

Current Market Cap: HK$177.5M

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