KLSE:AZRB

Ahmad Zaki Resources Unit Hit With Winding Up Petition; Shares Drop 4%

Ahmad Zaki Resources (KLSE:AZRB) unit Ahmad Zaki has been served with a winding-up petition over an alleged unpaid sum of 1.81 million ringgit, according to a Monday Malaysian bourse filing.Shares fell 4% in Tuesday's afternoon trade.The petition, filed by Tenaga Nirwana (M) in February, relates to alleged outstanding payments for quarry materials supplied.The company said Ahmad Zaki is not a major unit and expects no significant financial or operational impact.The unit is in talks with the petitioner to reach an amicable settlement, the filing said.