Taghill Holdings Berhad (“Taghill” or the “Company”) announced yesterday that its wholly-owned subsidiaries, Siab (M) Sdn Bhd (“SMSB”) and Siab Construction Sdn Bhd (“SCSB”) (through the initiation by Taghill Projects Sdn Bhd as one of SCSB creditors), have voluntarily filed applications to the High Court of Malaya for a Judicial Management Order (“JMO”) pursuant to Sections 404 to 406 of the Companies Act 2016.
The applications were filed as part of the Group’s proactive approach to address the financial position and cash flow constraints of SMSB and SCSB.
Under the proposed Judicial Management framework, both subsidiaries seek to restructure their debts and business operations pursuant to the intended judicial management to better serve the interest of the creditors under court supervision, safeguard employment, and facilitate a more advantageous realisation of assets compared to a winding-up scenario.
Mr. Wong Yih Ming, Group Managing Director of Taghill Holdings Berhad said,
“The Judicial Management process provides a structured and transparent framework to preserve value while we work towards stabilising our subsidiaries’ operations. We view this as a necessary and responsible step to ensure long-term sustainability, while our core operations under Taghill Projects Sdn Bhd continue to perform healthily.
With shareholders’ approval obtained for our diversification into property development, we are confident this new venture will further strengthen our growth prospects alongside our ongoing construction business.”
The filing of the Applications automatically triggers a moratorium under the law effective from the date of filing until the High Court grants or dismisses the Applications (disposal of the applications). During this period, no resolution shall be passed or order made for the winding-up of SMSB or SCSB.
Both subsidiaries, however, are not major subsidiaries of Taghill, representing 15.92% and 7.58% of the Group’s total assets, respectively, based on the Company’s audited financial statements for the financial period ended 31 May 2025.
Accordingly, the Applications are not expected to have any immediate material financial impact on the Group’s performance for the financial year ending 31 May 2026.
Taghill reaffirmed that all other subsidiaries, particularly Taghill Projects Sdn Bhd, remain fully operational and unaffected.
The Group continues to execute its ongoing projects and maintain robust operations, backed by a solid outstanding order book of RM1.288 billion as at 31 August 2025, ensuring continued revenue visibility and operational momentum.
The Group will fully cooperate with the High Court and any appointed judicial managers on the next course of action regarding the subsidiaries’ restructuring process.
For more information, visit https://taghill.my/.
