1. Introduction

Pursuant to Paragraph 9.04(f) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that its wholly-owned subsidiary, Jetson Construction Sdn. Bhd. (“JCSB”) had filed a Writ of Summons and Statement of Claims against Skyscape Industries Sdn. Bhd. (“Skyscape”) vide a suit no. WA-22C-81-08/2020 on 19 August 2020 which filed at the High Court of Malaya at Kuala Lumpur.


2. Circumstances leading to the filing of the Writ of Summons and Statement of Claims against Skyscape     

This action was filed as a result of the breach of terms by Skyscape in relation to the sub-contract between JCSB and Skyscape for a project involving construction and completion of the superstructure sub-contract works for bridge BR1, BR1a, BR1b, BR3, BR4, BR5, BR13, BR14, BR15, BR15a, BR15b, and miscellaneous works, for the project known as bridgeworks for paclage 2, 3, 4, 5, 6, & 7 for proposed Lebuhraya Putrajaya to KLIA commencing from Putrajaya Interchange and terminating at KLIA (“MEX 2 Project”).


3. Particulars of the Claims under the Statement of Claims

The claims against Skyscape pursuant to the Statement of Claims are as follows:-

i.   A sum of RM6,123,201.23 which is a penalty and compensation for non performance.
ii.  Interest at the rate of 8% per annum for the sum of RM6,123,201.23 from the date of judgment until realisation and interest at the rate of 5% per annum for general damages from the date of filing the summons until realisation;
iii. General damages;
iv.  Exemplary damages;
v.   Costs; and
vi.  Such further or other relief as the Honourable Court deems fit.


4. Financial and Operational Impact of the Writ of Summons and Statement of Claims

Apart from the amount claimed by the Company and the corresponding legal costs, the Writ of Summons are not expected to have any other material financial impact on the Company for the financial year ending 31 December 2020.


5. Directors' and Major Shareholders' Interest

None of the Directors and/or Major Shareholders of the Company and/or person connected to them have any interest, direct or indirect in the said litigation.


6. Further Announcement

Further announcements will be made to Bursa Malaysia Securities Berhad as and when there are material developments on the above matter.


This announcement is dated 26 August 2020.