MTDACPI

0.275

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MATERIAL LITIGATION MTD ACPI ENGINEERING BERHAD ("MTD ACPI" or the "Company") IN THE MATTER OF SESSIONS COURT IN SELAYANG WRIT NO. BD-A52NCVC-17-11/2020 BETWEEN KIM MIN HARDWARE SDN BHD ("KMHSB" OR "PLAINTIFF") AND ASSOCIATED CONCRETE PRODUCTS (MALAYSIA) SDN BHD ("ACPM" OR "DEFENDANT")

MTD ACPI ENGINEERING BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MTD ACPI ENGINEERING BERHAD ("MTD ACPI" or the "Company") 
IN THE MATTER OF SESSIONS COURT IN SELAYANG WRIT NO. BD-A52NCVC-17-11/2020 BETWEEN KIM MIN HARDWARE SDN BHD ("KMHSB" OR "PLAINTIFF") AND ASSOCIATED CONCRETE PRODUCTS (MALAYSIA) SDN BHD ("ACPM" OR "DEFENDANT")

MTD ACPI wishes to announce that its wholly-owned subsidiary, ACPM has on 10 December 2020 received the sealed Writ of Summons No. BD-A52NCVC-17/11/2020 and a Statement of Claim dated 18 November 2020 from Messrs Thomas Lai & RJ Soo, the solicitors for the Plaintiff (“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 RM100,042.00;

2. interest at the rate of 5% per annum on the outstanding sum calculated from the judgment date until full settlement of the sum;

3. costs; and

4. other reliefs as the Court deems fit.

 

The Plaintiff alleges that ACPM has failed to pay the balance outstanding sum for goods 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 only materialise if the Court rules in favour of the Plaintiff, the litigation will not result in any material financial impact on the Company as at the date of this announcement. Further, 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 15 December 2020. ACPM is seeking legal advice on this matter.

 

The Company will make further announcement on material development of the above matter as and when necessary.

 

This announcement is dated 10 December 2020. 






Announcement Info

Company Name MTD ACPI ENGINEERING BERHAD
Stock Name MTDACPI
Date Announced 10 Dec 2020
Category General Announcement for PLC
Reference Number GA1-10122020-00064