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The Winding-up petition is presented pursuant to Section 218(1)(i) of the Companies Act, 1965 (“CA 1965”) on the ground that it is just and equitable to do so.

Under the Winding-up petition, TRI had also prayed for the appointment of Encik Wan Idris bin Wan Ibrahim of Messrs Atarek Kamil Ibrahim & Co. of 89-3 Jalan 2/27F, Pusat Bandar Wangsa Maju (KLSC), 53300 Kuala Lumpur as the provisional liquidator for Motorhomes.

Information on Motorhomes

Motorhomes was incorporated in Malaysia on 15 June 1989. Its present authorised and issued and paid-up capital are RM800,000 comprising of 800,000 ordinary shares of RM1.00 each and RM718,000 comprising of 718,000 ordinary shares of RM1.00 each respectively. The principal activity of Motorhomes was providing motorhomes for travel in Malaysia. Motorhomes has ceased its operation since 18 July 2002.

Rationale for the Winding-up

The Winding-up of Motorhomes is due to the following reasons: -

1. Motorhomes had ceased its operation since 18 July 2002 and its existence is purely by reason of incorporation.
2. Notwithstanding the above, its continued existence means that not only will it continuously be subject to the corporate regulatory requirements of the CA 1965, but also continuously incur operating expenses relating to the same.
3. The failure of Motorhomes’ individual shareholder of the remaining 38% of its shares to comply with her obligations as a member/shareholder, has resulted in Motorhomes’ inability to comply with its own corporate regulatory requirements of the CA 1965.