On 1st November 2017, Emas Victoria (L) Bhd (“EVLB”), a 51% subsidiary of Perisai Production Holdings Sdn Bhd, a wholly-owned subsidiary of Perisai, awarded a contract to provide ship care services for the vessel Perisai Kamelia (“the Vessel”) to AWH International Logistics Sdn Bhd (“AWH”), while the Vessel is laid up at Tompok Utara.

On 12 December 2017, the Plaintiff was appointed by AWH, vide a Ship Care Services Contract (“Contract”) for the provision of ship care services for the Vessel, effective from 15 December 2017 to 31 May 2018 and extended to another six (6) months period effective from 1 June 2018 to 30 November 2018.

Due to discrepancies and non-performance with the terms as agreed in the Contract, the Contract was terminated by AWH upon expiration of the Contract.

On 20 March 2019, Messrs Hanif & Co., the solicitors for the Plaintiff issued a Notice of Demand (“NOD”) for RM170,354.84 for the provision of ship care services for the Vessel for the period from November 2018 to December 2018. On 4 April 2019, Messrs. S. Thilaga Law Chamber, the solicitors for AWH issued a reply to the NOD, refuting the Plaintiff’s claim and demanded that the Plaintiff furnish supporting documents to substantiate the claim.

The Board of Directors (the “Board”) of Perisai wishes to announce that on 8 October 2019, the Vessel had been arrested pursuant to the Writ of Rem dated 19 September 2019 and the Warrant of Arrest of the Vessel dated 26 September 2019 between the Plaintiff and Owner of the Vessel and any other party related to the Vessel (the “Defendant”).

Pursuant to the Writ of Rem, the Plaintiff demanded from the Defendant on the following:-

a) the total principal sum of RM172,000.00 for the provisions of ship care services for the Vessel at Tompok Utara Area by the Plaintiff;

b) interest rate at 5% per annum on the total principal sum of RM172,000.00 from 27 February 2019 until the settlement date;

c) costs; and

d) extended order(s) and/or any other order(s) deemed necessary or relevant by the High Court.

The Board would seek legal advice on the above matter.

Further announcement on any material development on the above will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 17 October 2019.