Palace of the Golden Horses operator faces winding-up petition over RM143,000 dues

• Fujifilm is claiming RM142,698 based on a default judgment from January 2022, which included an unpaid sum of RM93,090.25, daily interest, and legal costs. Country Heights said the issue started during the Covid-19 pandemic and was not handled by the former management.

KUALA LUMPUR (Aug 22): Country Heights Holdings Bhd (KL:CHHB) said its unit, Golden Horse Palace Bhd (GHPB)—operator of the Palace of the Golden Horses—is facing a winding-up petition from Fujifilm Business Innovation Asia Pacific over an unpaid debt.

The petition was filed after talks broke down in August. Negotiations had been ongoing since April, when GHPB received a statutory demand. The case will be heard on Nov 10, 2025.

Fujifilm is claiming RM142,698 based on a default judgment from January 2022, which included an unpaid sum of RM93,090.25, daily interest, and legal costs. Country Heights said the issue started during the Covid-19 pandemic and was not handled by the former management.

In a filing with Bursa Malaysia, the group said it believes the petition won’t have a major financial impact, as GHPB has no charges on its assets. However, it warned that if the court grants the order, GHPB would go into liquidation—which could affect operations, finances, and reputation due to the unit’s role in running the Palace of the Golden Horses.

Country Heights said it is seeking legal advice, plans to oppose the petition, and may negotiate a settlement before the hearing.

Separately, in July, another unit—Country Heights Commercial Development—also received a winding-up petition from the tax authority over RM312,560 in unpaid taxes.

Country Heights shares ended unchanged at 19 sen on Friday, with a market value of RM62 million.

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