KUALA LUMPUR,. The High Court has issued an arrest warrant for Tan Sri Ting Pek Khiing, who is behind a purported RM30 billion Langkawi project, for his absence in bankruptcy proceedings against him.
According to The Edge Markets website, the judge ordered Ting’s arrest under the Insolvency Act, in addition to another already made out for the arrest of his wife, Puan Sri Wong Sui Chuo, last month.
Both failed to appear in the case brought by Ting’s creditors.
“When the creditors discovered last week (last Thursday) through the media that he (Ting) had this RM30 billion project that he wanted to launch, they were in all honesty very happy for him.
“All they request is that ‘if he has the money, if he can afford it, please pay off the creditors first’,” a source was quoted as saying in the report.
The warrant instructed police to apprehend Ting and present him to the High Court on June 29.
Ting’s lawyers asserted that his absence was due to him preparing for the purported multi-billion project in Langkawi.
Among others, Ting reportedly owes Alliance Bank Malaysia Bhd, Alliance Investment Bank Bhd, Alliance Merchant Bank Bhd, Insas Credit & Leasing Sdn Bhd, Datuk Hu Chang Pee, Southeast Asia Special Asset Management Bhd, Multi Purpose Bank Bhd and Interhill Enterprise Sdn Bhd.
Late last month, Ting announced that he will proceed with the Langkawi New City project, expected to cost around RM30 billion and located on about 81 hectares of reclaimed land off the west side of the island.
Kedah Mentri Besar Datuk Seri Mukhriz Mahathir later said, however, that the project was not approved and no valid proposal has been submitted.