This update is further to the earlier High Court decision in Re Scomi Group Bhd which held that public listed companies cannot apply for judicial management.
Another public listed company, Dolomite Corporation Berhad, has also failed in its judicial management application.
On 8 March 2022, Dolomite announced that the Shah Alam High Court had dismissed its judicial management application. Among others, the Court held that public listed companies are not allowed to apply for judicial management pursuant to section 403(b) of the Companies Act 2016 i.e. being a company subject to the Capital Markets and Services Act 2007. Continue reading