The Board of Directors of MTD ACPI wishes to announce that its wholly-owned subsidiary, ACPM, has on 21 October 2020 received the sealed Writ of Summon no. BA-B52NCC-214-10/2020 and Statement of Claim dated 12 October 2020 from Messrs. Kelvin Wong, Phang & Associates, the solicitors for LEKL (“Writ and Statement of Claim). Pursuant to the Writ and Statement of Claim, the Plaintiff claims the following from ACPM:-

1. total outstanding sum of RM572,302.00 plus interest at the rate of 1% per month from 10 December 2019 until full settlement of the sum;
2. costs; and
3. other reliefs as the Court deems fit.

The Plaintiff alleges that ACPM has failed to pay the balance outstanding sum for goods and services supplied by the Plaintiff to ACPM.

The Company is of the view that save for the costs and other reliefs sought by the Plaintiff, which will materialize only if the Court rules in the Plaintiff’s favour, the litigation will not result in any material financial impact on the Company as at the date of this announcement. There shall be no impact on the Company’s operations.

The Court has fixed the matter for case management by way of e-Review on 16 November 2020. The Company is seeking legal advice on this matter.

The Company will announce any material development arising from the above proceedings at the appropriate time.

This announcement is dated 21 October 2020.