Timber firm ordered to shut

KOTA KINABALU: Sabah Forest Industries has been ordered to wind up by a High Court here after it failed to settle debts of about RM2.6mil.

Justice Leonard Shim ordered wind-up yesterday under Section 465(1) (e) of the Companies Act, over RM2,699,244.24 indebted to petitioner Lee Khoon Hoo & Anor and supporting creditor Sabah Development Bank.