Furniweb Holdings Limited announced that its controlling shareholder, PRG Holdings Berhad, has filed an application in the High Court of Malaya on 3 August 2026 to place itself under judicial management.

The filing, made under Sections 404 to 411 of Malaysia’s Companies Act 2016, requests: 1) Court approval to place PRG under judicial management for six months, 2) Appointment of Andrew Heng and Ashvin Mahendran of Baker Tilly Insolvency PLT as joint and several judicial managers, and 3) A moratorium preventing any winding-up resolution during the proposed management period.

PRG stated that judicial management would grant temporary protection from creditor enforcement while the appointed managers pursue a restructuring plan. The move follows a winding-up petition previously lodged against PRG by a creditor, as disclosed on 27 July 2026.

PRG currently holds 625.22 million Furniweb shares, representing 67.72 % of Furniweb’s issued capital. Furniweb emphasized that PRG is a separate legal entity and confirmed that no member of the Furniweb group is involved in the application. The Group’s business operations remain normal as of the announcement date.

Given PRG’s majority stake, Furniweb noted potential implications for its shareholding structure and is monitoring market activity. Further updates will be released when appropriate.

Shareholders and potential investors are advised to exercise caution when dealing in Furniweb securities.