RIMBUN’s Corporate Recovery team specializes in insolvency practice.

Our team is dedicated to ensuring that corporate recovery exercises are successfully completed through the effective and efficient realization of assets for the benefit of affected stakeholders.

RIMBUN’s Corporate Recovery Services spans the entire spectrum – from investigating books and records to ascertain the movement of funds and assets and to assist creditors and purchasers to navigate through the recovery process as well as through the regulatory, legal and financial requirements.

RIMBUN’s systems and processes are designed to consistently deliver unparalleled level of services and benefits for the benefits of stakeholders.

RIMBUN’s team specializes in the following Corporate Recovery Services:


    • Members Voluntary Winding-Up
    • Creditors Voluntary Winding-Up
    • Compulsory Winding-Up (Court Winding Up)
    • Receivership
    • Rehabilitating Consultant

Current Portfolios

  • Azbana Development S/B (ADSB)

    Kemaman Centre Point

    Background


    Winding up date : 11 June 2002

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 5 August 2008

    Project Undertaken by “ADSB”


    Name of project : Kemaman Centre Point

    Location : The project is built on land held under Master Title PM 1604 Lot No 12338, Mukim Cukai, Daerah of Kemaman, Negeri Terengganu

    Land Proprietor : Majlis Daerah Kemaman

    Description of project : Five (5) storey shopping complex comprising ofthree hundred and four (304) retail units and two (2) storey basement car park.

  • Binanusa Sdn Bhd (BSB)

    Background


    Winding up date : 17 May 2010

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 17 May 2010

    Project Undertaken by “BSB”


    Name of project : Taman Terubong Jaya, Berjaya Court, Desa Aman

    Location :
    (Taman Terubong Jaya – Low Cost)
    The project is built on lands held under PN 2367 Lot No. 8820, PN 2368 Lot No. 8822, PN 2365 Lot 8818 and PN 2253 Lot 8813, Mukim 13, Daerah Timur Laut, Negeri Pulau Pinang
    (Taman Terubong Jaya – Medium Cost)
    The project is built on lands held under PN 6891 Lot 11512 and PN 2366, Lot 8819, Mukim 13, Daerah Timur Laut, Negeri Pulau Pinang

    Berjaya Court
    The project is built on land held under Geran 61122, Lot 2650, Bandar Georgetown, Daerah Timur Laut, Negeri Pulau Pinang
    Desa Aman
    The project is built on land held under GM 2805 Lot 10241, GM 2808 Lot 10243, GM 2809 Lot 10245, GM 336 Lot 1658 and GM 338 Lot 1662 Mukim 13, Tempat Relau, Daerah Timur Laut, Negeri Pulau Pinang

    Land Proprietor :
    Taman Terubong Jaya – Penang State Secretary
    Berjaya Court – Perbadanan Kemajuan Negeri Kedah
    Desa Aman – Geam Chun Lai and 9 others (Power of Attorney held by Dexon Development Sdn. Bhd.)

    Description of project :
    (Taman Terubong Jaya – Low Cost)
    Fifteen (15) blocks of five (5) storey low cost apartments comprising of one thousand four hundred twelve units
    (Taman Terubong Jaya – Medium Cost)
    Three (3) blocks of sixteen (16) storey apartments and two (2) blocks of seventeen (17) storey apartments comprising of one thousand one hundred sixty six units

    Berjaya Court
    One (1) block of nine (9) storey condominium comprising of sixty four (64) units

    Desa Aman
    Two (2) blocks of ten (10) storey and twenty (20) storey medium low cost apartments comprising of 392 units

  • Brisdale Holdings S/B (BHSB)

    Bandar Armada Putra

    Background


    Winding up date : 25 September 2008

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 31 March 2010

    Project Undertaken by “BHSB”


    Name of project : Bandar Armada Putra (Formerly known as West Port Tech Zone)

    Location : Mixed Development land identified as PN 7361 Lot 67701 and PN 7362 Lot 67702 (Formerly known as HS(D) 49488 P.T 49974 and HS(D) 49489 P.T 49975), Mukim of Klang, District of Klang, State of Selangor

    Land Proprietor : Brisdale Holdings Sdn. Bhd.

    Description of project : Mixed development comprising of 3,300 residential and commercial units measuring three hundred forty four (344) acres.

  • Kemayan Resources S/B (KRSB)


    Background


    Winding up date : 29 January 2010

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 12 April 2011

    Project Undertaken by “KRSB”


    Name of project : Rasah Kemayan Golf and Country Township

    Location : The project is located at Rasah Kemayan, Mukim Rasah, Daerah Seremban, Negeri Sembilan Darul Khusus

    Land Proprietor : Kemayan Resources Sdn. Bhd. (In Liquidation)

    Description of project : Mixed development of commercial and residential properties
  • Lembah Kerjaya S/B (LKSB)

    Putra Intan Condominium

    Background


    Winding up date : 10 March 2009

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 10 March 2009

    Project Undertaken by “LKSB”


    Name of project : Putra Intan Condominium

    Location : The project is built on land held under Master Title PM 3012, Lot 18983, Pekan Dengkil, Tempat Batu 1, Daerah Sepang, Negeri Selangor Darul Ehsan

    Land Proprietor : Lembah Kerjaya Sdn. Bhd.

    Description of project : Two hundred forty (240) units of medium cost apartment

  • Metro Tegas Dev. S/B (MTDSB)

    La Cottage Phase 1E

    Background


    Winding up date : 25 November 2008

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 2 October 2009

    Project Undertaken by “MTDSB”


    Name of project : La Cottage (Taman Putra Perdana) Phase 1E

    Location : The project is built on land held under Master Title PN392590 Lot 14000 Mukim Dengkil, Daerah Sepang, Negeri Selangor Darul Ehsan

    Land Proprietor : Continental Heights Sdn. Bhd.

    Description of project : Seven hundred twenty eight (728) units of double storey houses which are seperated according to phase 1, 1C, 1D, 1E, 1F & 1G

  • Pasdec Properties S/B (PPSB)

    Kompleks Teruntum

    Background


    Winding up date : 18 October 1991

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 22 February 2006

    Project Undertaken by “PPSB”


    Name of project : Kompleks Teruntum

    Location : The project is built on lands held under Master Title PN 398 Lot 146 Seksyen 18 and PN 4829 Lot 201 Seksyen 81, both in Bandar Kuantan, Daerah Kuantan, Negeri Pahang Darul Makmur

    Land Proprietor : Pasdec Properties Sdn. Bhd.

    Description of project : Twenty two (22) storey of one hundred seventy nine (179) office lots and a four (4) storey podium tower comprising of one hundred thirty six (136 ) retail lots

  • Success Villa S/B (SVSB)

    Background


    Winding up date : 2 October 2007

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 13 July 2011

    Project Undertaken by “SVSB”


    Name of project : Taman Mengkibol, Kluang

    Location : Mixed Development land identified as HS(D) 40283, P.T 17509, Mukim of Kluang, Daerah of Kluang, State of Johor Darul Takzim.

    Land Proprietor : KSL Development Sdn. Bhd.

    Description of project : Residential land comprising of 1032 units measuring 244 acres

  • Uncang Emas S/B (UESB)

    Uncang-Emas-Sdn-Bhd

    Background


    Winding up date : 7 December 2005

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 7 December 2005

    Project Undertaken by “UESB”


    Name of project : Taman Miharja

    Location : Taman Miharja, Cheras, Town of Kuala Lumpur, District of Kuala Lumpur

    Land Proprietor : Miharja Development Sdn. Bhd. (In Receivership)

    Description of project : Mixed development comprising of five (5) phases :-
    Phase 1 – Four hundred two (402) units of low cost apartment and three hundred seventy nine (379) units of medium low cost apartment
    Phase 2 – One thousand three hundred sixteen (1,316) units of medium cost apartment
    Phase 3A – Seven hundred fifty two (752) units of condominium
    Phase 3B – Seventy nine (79) units of three (3) storey shop lots
    Phase 3C – One (1) shopping complex comprising of three hundred fifteen (315) units and office blocks comprising of three hundred eight nine (389) units
  • Venice Hill Resort Living S/B (VHRSB)

    Venice Hill Condominium and Golf Resort

    Background


    Winding up date : 8 August 2007

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 28 April 2009

    Project Undertaken by “VHRSB”


    Name of project : Venice Hill Condominium and Golf Resort

    Location : The project is built on lands held under Master Title GM 120849, Lot 14715 and GM114159, Lot 14715, Mukim Ulu Langat, Daerah Ulu Langat, Negeri Selangor Darul Ehsan

    Land Proprietor : Venice Hill Resort Living Sdn. Bhd.

    Description of project : Ten (10) towers comprising one thousand six hundred forty two (1,642) units of condominium

  • Zamrud Properties S/B (ZPSB)

    Le Chateau

    Background


    Winding up date : 9 February 2007

    Liquidator : Jambulingam Sethuraman Raki

    Date of Appointment : 24 April 2009

    Project Undertaken by “ZPSB”


    Name of project : Le Chateau 1 (formerly known as Kelab Le Chateau Apartment Kondominium) and Le Chateau 2

    Location :
    Le Chateau 1
    The project is built on lands held under Master Title GM 1334 Lot 10 and GM 1335 Lot 11, Seksyen 94B, both of Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Kuala Lumpur
    Le Chateau 2
    The project is built on land held under Master Title GM 2417 Lot 108, Seksyen 94B, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Kuala Lumpur

    Land Proprietor : Zamrud Properties Sdn. Bhd.

    Description of project :
    Le Chateau 1
    – One hundred forty four (144) units of condominium and five (5) storey clubhouse

    Le Chateau 2
    – One hundred seventy two (172) units of condominium