MTD ACPI wishes to announce that its wholly-owned subsidiary, ACPM has on 15 January 2021, received the sealed Writ of Summon no. BA-B52NCC-7-01/2021 and Statement of Claim dated 11 January 2021 (“Writ and Statement of Claim) from Messrs. Kelvin Wong, Phang & Associates, the solicitors for LEKL. Pursuant to the Writ and Statement of Claim, the Plaintiff claims the following from ACPM:-

1. total outstanding sum of RM445,272.00 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 materialise only if the Court rules in the Plaintiff’s favour, the litigation will not result in any material financial impact on the Company and the Group 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 10 February 2021. 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 18 January 2021.