{
  "id": 7553566,
  "title": "Pestec disputes winding-up petition by SPECO over alleged corporate guarantee",
  "url": "https://urgent.news/2026/09/15/pestec-disputes-winding-up-petition-by-speco-over-alleged-corporate",
  "topic": "world",
  "section": "World",
  "published": "2026-09-15T12:05:05.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1533521/pestec-disputes-winding-petition-speco-over-alleged-corporate"
  },
  "original_language": "en",
  "account": "According to a filing by Pestec International Bhd, the company has disputed a winding-up petition filed by Shandong Power Equipment Company Limited (SPECO) claiming an alleged corporate guarantee. Pestec maintains that it was not validly served with the legal notice for the petition. The company was made aware of the petition when Bursa Malaysia Securities Bhd sent them a copy of SPECO's notice of advertisement published in two publications on September 8. Pestec has not accepted or admitted the validity of the service or the underlying claim made by SPECO. The alleged sum is said to stem from an undated corporate guarantee, but Pestec strongly disputes the claim, including the alleged indebtedness and enforceability of the corporate guarantee. The validity of the guarantee is currently being contested in an ongoing civil suit at the Kuala Lumpur High Court, announced on August 24, 2026. Pestec also obtained an injunction against SPECO on September 7, 2026, which effectively prevented SPECO from enforcing any rights under the disputed corporate guarantee.",
  "summary": "KUALA LUMPUR: The board of directors of Pestec International Bhd has disputed a winding-up petition purportedly presented against the company by Shandong Power Equipment Company Limited (SPECO), maintaining that the company has not been validly served with the legal notice.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}