KUALA LUMPUR, Ireka Corporation Bhd (ICB) has defaulted on loan repayments amounting to RM1.04 million owed to Hong Leong Bank Bhd (HLBB) and AmBank (M) Bhd.
In a filing with Bursa Malaysia, ICB said the loans were originally granted to its former wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd (IECSB), which has since been wound up.
As at Sept 23, 2025, the outstanding sums stood at RM675,000 with HLBB and RM364,962.88 with AmBank. ICB noted that it is prioritising limited resources to sustain ongoing projects and cover operational expenses to ensure business continuity.
“The company has been actively engaging financiers to work towards mutually agreeable solutions. It continues to seek their support and indulgence as it undertakes its asset monetisation exercise, part of which will be used to regularise the loan defaults,” it said.
The company added that HLBB, in its role as corporate guarantor, had issued a letter of demand dated Sept 18, 2025, seeking settlement of arrears under the existing repayment arrangement. HLBB has also reserved its rights to initiate legal recovery actions should non-payment persist. ICB said it will be submitting a solvency declaration to Bursa Malaysia within three market days from the date of the announcement.
