Eden: Slapped with winding-up petition. Eden Inc has been
slapped with a winding-up petition by the government of Malaysia for
allegedly owing the IRB of Malaysia about RM3.2m. The petition was
presented to the High Court of Malaya on Feb 6, 2018 and was served to
the company on the Feb 13, 2018. Consequently, Eden is to be wound-up by
the court pursuant to Section 466(1)(e) of the Companies Act 2016, and
that the cost of the petition will be paid out from the assets of the
company. The income tax debt stated under the petition was mainly
resulted from the advance rental income for the period of 10 years
between 2013 and 2023 amounting to RM9.8m received and recognised by
Eden as a deferred income in FY13. (The Edge)
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