“Ecobuilt’s key unit Rexallent Construction faces winding-up petition over RM447,886 debt. Legal proceedings set for Sept 2025 with minimal financial impact expected.”
Kuala Lumpur, 10th July 2025, 01.30pm – Ecobuilt Holdings Bhd’s major subsidiary, Rexallent Construction Sdn Bhd (RCSB), has been served with a winding-up petition over an alleged unpaid debt of RM447,886.46, according to the company’s filing with Bursa Malaysia on Wednesday.
The petition, filed by Inflextec Engineering Sdn Bhd, seeks to dissolve RCSB under the Companies Act 2016, appoint an official receiver as provisional liquidator, and recover legal costs from the company’s assets.
Hearing Set for September 2025
The hearing is scheduled for Sept 8, 2025. In the meantime, Ecobuilt said it is obtaining legal counsel to evaluate the validity and enforceability of the petition and will disclose material updates as they arise.
The issue stems from a statutory demand issued by Inflextec to RCSB on May 2, 2025, requesting immediate settlement of the alleged debt. As of now, RCSB has not fulfilled the payment obligation, prompting Inflextec to initiate formal legal proceedings.
Limited Financial Impact, Says Ecobuilt
Ecobuilt classified RCSB as a major subsidiary under the Main Market Listing Requirements. Its investment in RCSB stood at RM750,000 as of Aug 31, 2024.
In its statement, Ecobuilt assured investors that if the petition is successful, the financial impact will be limited to the claimed amount and associated legal costs, which have already been accounted for in its financial statements.
The company added that the group’s overall operations remain unaffected, and no additional losses are expected from the matter.
Share Price and Market Value
Shares in Ecobuilt were untraded on Wednesday. The last recorded price was three sen on Monday (July 7), giving the construction firm a market capitalisation of RM12.62 million.
