Jerasia units apply for judicial management order

According to Jerasia Capital, the retail and manufacturing segments have been operating under adverse financial and operational conditions since the Covid-19 pandemic. (Filepic shows Jerasia subsidiary Canteran Apparel factory.)

KUALA LUMPUR: Jerasia Capital Bhd has announced that three of its wholly owned subsidiaries – Jerasia Fashion Sdn Bhd, Jerasia Apparel Sdn Bhd and Canteran Apparel Sdn Bhd (pic) – have applied for a judicial management order to allow for a restructuring and regularisation of their finances.

In a filing with Bursa Malaysia, Jerasia Capital said the judicial management order, if granted, would get the involvement of an independent professional to facilitate the restructuring of the group with the assistance of the board of directors and management.