News

The Company wishes to announce that on 15 November 2023, its subsidiary company, PSKIN, had filed an application via Kuala Lumpur High Court (“Court”) Originating Summons WA-24NCC-640-11/2023, under Section 366 of the Companies Act 2016 (“Act”), for leave to summon meetings for PSKIN’s creditors to consider a proposed scheme of arrangement between PSKIN and its scheme creditors (“Scheme”). The purpose of the Scheme is to preserve the going concern of PSKIN while it carries on negotiations and legal action to seek compensation from the Government of Malaysia following the termination of the Sistem Kawalan Imigresen Nasional’s contract. PSKIN obtained the Order granting leave from the Court on 30 November 2023 ("Court Order”).

In compliance with the Court Order, on 7 December 2023, PSKIN duly notified the Scheme Creditors of the meetings of the Scheme Creditors, set to take place on 22 December 2023, at 10:00 a.m., in the Board Room, Level 3, Star Central, Block 11B, Lingkaran Cyber Point Timur, Cyber 12, 63000 Cyberjaya, Selangor Darul Ehsan. The Notice of Meeting was also advertised once in the national language in Berita Harian and once in English in New Straits Times on 7 December 2023.

All necessary documents, including the Explanatory Statement, required under Section 369 of the Act, were dispatched to the Scheme Creditors via email and registered post ahead of the meetings.

On 22 December 2023, at 10:00 a.m., PSKIN convened the Court-Convened Meetings ("CCM") at the aforementioned address.

The voting was conducted by poll and was calculated and verified by Securities Services (Holdings) Sdn. Bhd., the independent scrutineers.

The Scheme Creditors of the Company approved the Scheme with 100% in value of the Scheme Creditors voting in favour of the Scheme, for both classes of creditors. The results of the poll are as follows: