Court sets August 9 to hear winding-up petition against SPNB Aspirasi

• SPNB is owned by the Ministry of Finance, but its operations are governed by the Ministry of Housing and Local Government.

KUALA LUMPUR (June 5): The High Court here has set August 9 to hear Tunas Manja Development & Construction (KL) Sdn Bhd's (TMDC KL) winding-up petition against SPNB Aspirasi Sdn Bhd, a wholly-owned subsidiary of national housing development company Syarikat Perumahan Negara Bhd (SPNB).

SPNB is owned by the Ministry of Finance, but its operations are governed by the Ministry of Housing and Local Government.

According to a notice by Tunas Manja, creditors or supporters of SPNB Aspirasi can appear in person or have their lawyer attend the hearing to support or object to the petition.

To attend the hearing, individuals must inform Messrs Ahmad Deniel, Ruben & Co, in writing, providing their name, address and solicitor's details, if any, with the notice reaching the law firm no later than 12pm on August 1.

TMDC KL filed a winding-up petition against SPNB Aspirasi in May last year following the non-payment of the arbitration award.

To recap, SPNB Aspirasi and Tunas Manja signed a development agreement on December 15, 2015 to build 469 units of 1 1⁄2- and double-storey houses in Batu 11, Jalan Gambang, Kuantan.

Tunas Manja was appointed the project’s turnkey contractor by SPNB Aspirasi.

During the project's progress, disputes emerged, prompting Tunas Manja to terminate the agreement on Sept 30, 2019. Subsequently, the disputes were referred to arbitration.

On June 29, 2022, the arbitrator published the final award requiring SPNB Aspirasi to pay TMDC KL RM26.88 million, with annual interest of 5% until the full realisation of sums awarded.

Due to SPNB Aspirasi’s failure to pay, the High Court in Kuala Lumpur allowed the enforcement of the final award as a judgment on July 14, 2022.

On Jan 27, 2023, SPNB Aspirasi's attempts to challenge the enforcement order and the final award were rejected by the Kuala Lumpur High Court, after which TMDC filed a petition at the same court to wind up SPNB Aspirasi.

Meanwhile, SPNB Aspirasi has also taken former CEO Datuk Ahmad Azizi Ali, Tunas Manja Development & Construction (TMDC) and 10 others to court in September last year for alleged fraud.

SPNB Aspirasi claimed that Ahmad Azizi and others conspired to defraud the company regarding affordable housing projects in Kuantan between 2014 and 2019. The lawsuit alleges that a development agreement worth RM108 million was signed with TMDC (KL), falsely portrayed as a subsidiary of TMDC through fake documents approved by the late SPNB chairman Datuk Ahri Hashim and Azizi.

SPNB Aspirasi is seeking damages of at least RM141 million for land costs and loss of commercial opportunities.

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