MATERIAL LITIGATION MAH SING GROUP BERHAD ("MAH SING" or "COMPANY") KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO.: WA-22NCvC-673-09/2019 ELITE PARK DEVELOPMENT SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF MAH SING) AGAINST ZULHKIPLE ABU BAKAR (PRACTISING IN PERUNDING ZNA)
| MAH SING GROUP BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | MAH SING GROUP BERHAD ("MAH SING" or "COMPANY")
KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO.: WA-22NCvC-673-09/2019
ELITE PARK DEVELOPMENT SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF MAH SING) AGAINST ZULHKIPLE ABU BAKAR (PRACTISING IN PERUNDING ZNA) |
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We refer to the announcements dated 25 October 2019 and 27 November 2019 in respect of the Legal Proceedings against the Defendant, Zulhkiple Abu Bakar (practicing in Perunding ZNA) (“1st Defendant”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the said announcements. The Board of Directors of Mah Sing wishes to announce that the Plaintiff, through its solicitors, had filed and served the Amended Writ and Amended Statement of Claim against the 1st Defendant and two other defendants namely, Pembinaan Infrastruktur OKH Sdn Bhd (“2nd Defendant”) and Lonpac Insurance Berhad (“3rd Defendant”) on 15 July 2020 in the same Legal Proceedings. The claim against the 2nd Defendant is for breach of contract in failing amongst others, to provide materials and workmanship of the quality and standard pursuant to a letter of award dated 28 November 2014 and a Standard Form PAM 2006 Contract entered into between the Plaintiff and the 2nd Defendant to build and construct buildings in the project erected on Lot 24673 (PT 2105), Bandar Kundang, Mukim Rawang, Daerah Gombak, Selangor (“Development”). The claim against the 3rd Defendant is for breach of an insurance policy issued by the 3rd Defendant in favour of the Plaintiff as beneficiary under a Contractors’ All Risk Policy in failing to pay to the Plaintiff for damages and/or losses suffered by the Plaintiff in the Development. The amount claimed by the Plaintiff against the Defendants are inter alia: (a) A total sum of damages of RM40,670,557.81 and/or alternatively for damages to be assessed; and (b) Interest at the rate of 5% or any other rate as the Court deems fit and proper on the judgement sum calculated from the date of judgement until the date of final settlement and costs. The solicitors of the Plaintiff are of the view that the Plaintiff has good grounds to succeed in its claims against all Defendants. Pending outcome of this claim, it is too preliminary at this stage to ascertain the potential recoverable amount. Apart from the amount claimed by the Plaintiff, the Plaintiff’s claim is not expected to have any other material financial and operational impact for the financial year ending 31 December 2020. Further announcement will be made in the event of material development on the Legal Proceedings. This announcement is dated 15 July 2020. |
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Announcement Info
| Company Name | MAH SING GROUP BERHAD |
| Stock Name | MAHSING |
| Date Announced | 15 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15072020-00059 |