The Board of Directors of Integrated Rubber Corporation Bhd announced that the company had on January 22, 2013 been served with a Notice pursuant to Section 218(2)(a) of the Companies Act, 1965 dated January 21, 2013 from the solicitors for Malayan Banking Berhad to demand for a settlement of a sum of MYR 16,891,004.53 being the amount due and owing by the company to MayBank. The notice demands the company to make the payment of the said sum of MYR 16,891,004.53 together with further interest within three weeks of the receipt of the notice, failing which winding up proceedings will commence against the company. There will be a significant impact on the financial and operation of the company should winding up proceedings be taken upon the company.

The company has engaged lawyers to defend on the case.