Utusan Group ceases operations, staff told to vacate offices by 1pm Wednesday (Oct 9)


  • Nation
  • Wednesday, 09 Oct 2019

PETALING JAYA: Employees of Utusan Melayu (Malaysia) Berhad were told to pack up their belongings and leave the office by 1pm on Wednesday (Oct 9) as the cash-strapped company officially ceases operations.

Executive chairman Datuk Abd Aziz Sheikh Fadzir said poor cash flow, mounting debts and declining sales led to its board of directors on Monday (Oct 7) in approving the Creditor's Voluntary Liquidation proposal and appointing UHY Advisory (KL) Sdn Bhd as interim liquidator.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Nation

Country's top real estate professionals honoured at StarProperty Awards
Indonesia's Mount Lewotobi volcano eruption: 124 Malaysians report presence in Labuan Bajo
Lorry ploughs into goldsmiths shop in Camerons
More than 20% tax on those earning above RM100,000, says Amir Hamzah
Penang police detain driver for causing fatal accident with toppled container
Malaysians can now use Taiwan’s e-Gate for immigration clearance
Mitra approves almost RM100mil for Indian community empowerment, says Ramanan
Government holding RM12bil in unclaimed monies
One dead in fatal fight among foreign workers, four arrested
Mohd Azmawi Fikri to be sworn in as Nenggiri assemblyman Nov 21

Others Also Read