PETALING JAYA: PAOS Holdings Bhd
has announced that its wholly-owned subsidiary, Paos Industries Sdn Bhd (PISB), has lodged a proof of debt amounting to RM16.10mil with liquidator Nikmat Mujur Sdn Bhd (NMSB).
In a filing with Bursa Malaysia, the soap bar manufacturer said the claim relates to outstanding trade receivables due and owing by NMSB to PISB.
“The recovery of the said amount is subject to the availability of funds from the liquidation estate of NMSB and the priority of claims of creditors.
“Accordingly, there is no assurance that the amount claimed under the proof of debt will be recoverable, either in whole or in part.”
In view of the uncertainty surrounding the recoverability of the said amount, Paos said it expects to provide a full impairment for the outstanding balance in its financial statements for the financial year ending May 31, 2026.
“The proposed impairment is expected to reduce the group's consolidated earnings for the financial year ending May 31, 2026. In addition, the net assets per share of the group is expected to decrease by approximately 8.89 sen.
“The company will make further announcements as and when there are any material developments in relation to the above matter.”
