The three-man bench led by Justice P Ravinthran subsequently struck out the appeal.

Ravinthran, who sat with Justices Hashim Hamzah and Nazlan Ghazali, ordered Serba Dinamik to pay costs totalling RM200,000.

Earlier, lawyer Sandra Tan – representing Serba Dinamik Bhd and its subsidiaries Serba Dinamik International Ltd, Serba Dinamik Sdn Bhd and Serba Dinamik Group Bhd – informed the court that she had received instructions from her clients to withdraw the appeals.

On Jan 10 last year, the High Court in Kuala Lumpur allowed the winding-up petition brought by Standard Chartered Saadiq, HSBC Amanah Malaysia, AmBank Islamic, MIDF Amanah Investment Bank, United Overseas Bank (Malaysia) and Bank Islam Malaysia over debts of nearly RM5 billion.

HSBC Bank Malaysia and Hong Leong Islamic Bank supported the winding-up petition.

In today’s proceedings, Koo Yin Soon, appearing for the six financiers, Niisha Lakshme for HSBC Bank, and Karen Tan for Hong Leong Islamic Bank asked the court to award costs to their clients following the withdrawal of the appeal.

They said they had prepared for the appeal, which involved voluminous documents.

Niisha also spoke on behalf of the liquidators appointed by the court.

On March 16 last year, the High Court dismissed Serba Dinamik and its subsidiaries’ application for a permanent stay of the winding-up pending their Court of Appeal hearing.

Earlier this month, it was reported that Serba Dinamik had been delisted by Bursa Malaysia after the latter rejected the company’s final appeal.