Thank you indeed for the explanation. I am equally worried here as a buyer. A few points to ponder here...how do we know Polyritz Development has bank loan for their operations? Perhaps we need to seek help, to do a CTOS search on the company. From there, we can know any loans or gearing for this company.

Another thing to take note is that it is a winding up notice and it is the procedure to do that by publishing in the major newspapers in Malaysia.

I personally do not think there is any element of allegation since approval is needed from the high court to grant such notice. Also the developer was surely given notices before the court granted the notice. They can always file an injunction to prevent this winding up notice to take place. Given that this notice was published in the newspaper, it means that the developer did not file in any injunction to prevent.

As I mentioned previously, let's see the rule of laws to take place as Polyritz can still defend themselves in the court on 25/10/2018 as per the notice.