OTHERS ANNOUNCEMENT ON THE STATUS OF DEFAULT IN PAYMENT PURSUANT TO RULE 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
| ZECON BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | ANNOUNCEMENT ON THE STATUS OF DEFAULT IN PAYMENT PURSUANT TO RULE 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD |
|
Reference is made to our announcement dated 02 November, 2018, 07 December, 2018, 09 January, 2019, 13 February, 2019, 18 March 2019, 15 April 2019, 08 May 2019, 12 June 2019, 01 July 2019, 01 August 2019, 03 September 2019, 04 October 2019, 4 November 2019, 04 December 2019, 07 January 2020, 06 February 2020, 09 March 2020, 06 April 2020, 06 May 2020, 05 June 2020, 03 July 2020, 04 August 2020, 03 September 2020, 02 October 2020, 04 November 2020, 07 December 2020, 05 January 2021, 03 February 2021, 15 March 2021, 07 April 2021, 10 May 2021, 08 June 2021, 08 July 2021, 05 August 2021, 06 September 2021, 05 October 2021, 05 November 2021, 06 December 2021, 05 January 2022, 08 February 2022, 10 March 2022, 08 April 2022, 09 May 2022, 07 June 2022, 06 July 2022
1. High Court Writ of Summon – Plaintiff: Affin Hwang Investment Bank Berhad, Affin Bank Berhad and Bank Pembangunan Malaysia Berhad (Financiers) Defendant: Zecon Berhad
On 29 September 2022, at the Court of Appeal which hears the appeal filed by Zecon Berhad against the Summary Judgement granted by the High Court in favour of the Financiers, the Court of Appeal allowed the parties’ application for a further date and fixed case management on 16 November 2022 to monitor the status of the case.
On 16 November 2022, both parties informed the Court of Appeal on the 6 months extension of the Standstill Agreement. The Court of Appeal set further case management via e-review on 9 December 2022 to fix hearing dates pending the status of the Standstill Agreement.
On 7 December 2022, the Court of Appeal notified parties that the case management on 9 December 2022 had been vacated and rescheduled to 30 January 2023.
On 30 Jan, the parties requested for a further case management date in accordance with the extended Standstill Agreement. The Court of Appeal in view of no formal application of stay from the parties, fixed mention before full panel of the Court of Appeal Judges on 11 Apr 2023 to fix a hearing date and for directions. The Court of Appeal also fixed the matter for e-review on 28 Mar 2023.
On 28 March 2023, both parties informed the Appeal Court that there was no objection to the extension of the Standstill Agreement for another year. The Appeal Court maintained the next hearing on 11 April 2023 to be conducted virtually before the full panel of Appeal Court judges.
On 11 April 2023, the Appeal Court allowed 3 months for the parties to settle the matters and further informed the parties that if there is no settlement within the said period both matters will be fixed for case management to fix a hearing date. On 19 April 2023, the Appeal Court fixed case management for e-review on 13 July 2023.
On 13 July 2023, Parties requested for a hearing date and the Appeal Court set case management on 25 July 2023 via e-review to fix a hearing date.
On 25 July 2023, the Appeal Court fixed Zecon’s Notice of Motion for Stay for hearing on 12 October 2023 and case management on 18 September 2023 to monitor the preparation.
At the case management on 18 September 2023, the Court of Appeal maintained the hearing on 12 October 2023.
2. High Court Originating Summon – Plaintiff: Affin Hwang Investment Bank Berhad Defendant: Huang Hong Sdn Bhd
On 26 September 2022, at the Federal Court which hears the application for leave to appeal filed by Affin Hwang Investment Bank Berhad against the Court of Appeal decision to set aside the order of sale of Lot 14, Block 16, Salak Land District in Huang Hong Sdn Bhd’s favour, the Federal Court fixed the Plaintiff’s application for levee to appeal for hearing tentatively in November 2022. On 29 September 2022, the Federal Court fixed hearing for the Plaintiff’s application for leave to appeal on 14 November 2022 and fixed case management on 31 October 2022.
On 21 October 2022, Huang Hong Sdn Bhd filed Notice of Motion for Stay upon the completion of the Standstill Agreement Extension.
On 31 October 2022, the Federal Court adjourned the Plaintiff’s Notice for Leave to Appeal and fixed hearing for the Defendant’s Notice of Motion for Stay on 14 November 2022.
On 1 November 2022, the Federal Court via notice fixed the Plaintiff’s Notice of Motion for Leave to Appeal for case management on 16 November 2022.
On 16 November 2022, the Federal Court fixed Plaintiff’s and Defendant’s Notice of Motion for case management on 6 December 2022 pending a new hearing date for the Defendant’s Notice of Motion.
On 6 December 2022, the Federal Court set Huang Hong’s Notice of Motion for Stay for hearing and set the next Court sitting tentatively in March 2023. Court notice will be issued in due course.
On 18 January 2023, the Federal Court fixed Plaintiff’s and Defendant’s Notice of Motion for hearing on 7 March 2023 and directed both parties to e-file Bundle of Authorities by 16 February 2023 and fixed case management on 17 February 2023.
On 17 February 2023, the Federal Court allowed both parties’ joint application to adjourn the hearing of the Plaintiff’s Notice of Motion for Leave to Appeal and will fix the motion for case management in due course in order to set a new hearing date. The Federal Court also fixed the hearing for Huang Hong’s Notice of Motion for Stay to be conducted physically on 7 March 2023.
On 7 March 2023, The Federal Court granted orders that Plaintiff’s Notice of Motion for Leave to Appeal be stayed until 24 March 2023.
On 16 March 2023, the Federal Court fixed the Plaintiff’s Notice of Motion for Leave to Appeal for hearing on 16 May 2023. The Federal Court also directed both parties to file submission and bundle of authorities by 28 April 2023 and fixed the case management on 2 May 2023.
On 17 April 2023, Huang Hong e-filed Notice of Motion for Stay. On 19 April 2023, via Notice of Hearing the Federal Court fixed Huang Hong’s Motion for Stay and the Plaintiff’s Motion for Leave to Appeal on 16 May 2023. The date of submission remains on 28 April 2023 and the case management on 2 May 2023
On 16 May 2023, the Federal Court granted orders in terms of Huang Hong’s Motion for Stay and Plaintiff’s Motion for Lave to Appeal be stayed until 23 March 2024 with no order as to costs. The Federal Court fixed the matter for further case management and monitoring via e-review on 6 June 2023.
On 6 June 2023, the Federal Court fixed the matter for case management via e-review on 15 August 2023 to monitor the progress of settlement between the parties.
On 21 August 2023, the Federal Court fixed the matter for further case management via e-review on 3 October 2023 to monitor the settlement progress between the parties. On 3 October 2023, the Federal Court fixed the matter for further case management via e- review on 13 December 2023 to monitor the settlement progress between the parties.
3. High Court Writ & Claim – Plaintiff: Huang Hong Sdn Bhd Defendant: Affin Hwang Investment Bank Berhad, Affin Bank Berhad and Bank Pembangunan Malaysia Berhad (Financiers)
On 3 October 2022, the High Court allowed the parties’ application for a further case management date and fixed the matter for further monitoring on 17 November 2022 via ZOOM pending settlement between parties.
On 17 November 2022, both parties applied for further mention date. The High Court allowed the application and fixed matter for monitoring on 6 January 2023 via e-review, pending settlement between parties.
On 6 January 2023, both parties applied for a further mention date and the Court on 18 January 2023 fixed matter for further mention for e-review on 17 February 2023 pending parties’ settlement.
On 17 February 2023, both parties applied for a further mention date. The Court fixed the matter for further monitoring on 20 March 2023 via e-review pending settlement between the parties.
On 20 March 2023, both parties applied for a further mention date and the Court fixed the matter for further monitoring on 13 April 2023 via E-review pending settlement.
On 13 April 2023, parties informed the Court that the Standstill Agreement has been extended for a further 12 months. The Court fixed the matter for a further monitoring on 13 July 2023 via e-review to monitor the finalization of the global settlement between the parties.
On 13 July 2023, the Court fixed matter for Mention via Zoom on 28 Jul 2023 and on 28 July 2023, Huang Hong’s solicitor informed the Court that Parties are in the midst of completing the Sukuk financing and global settlement of this matter and other relevant matters, and that Parties’ other cases at the Court of Appeal are depending hearing dates to be fixed. The Court fixed the matter for Mention via e-review on 11 August 2023.
On 11 August 2023, parties applied for further mention date pending settlement and the Court of Appeal’s decision on Huang Hong’s Notice of Motion for Stay. The Court fixed matter for e-review on 15 September 2023.
On 15 September 2023, parties applied further mention date pending settlement and the Court of Appeal’s decision on Huang Hong’s Notice of Motion for Stay. The Court fixed matter for e-review on 16 October 2023.
On 29 September 2022, at the Court of Appeal which hears the Financiers’ appeal against the High Court decision to dismiss their strike out application, the Court of Appeal allowed the parties’ application for a further case management date and fixed the matter for case management on 16 November 2022 to monitor the status of the case.
On 16 November 2022, the Court of Appeal set further case management via e-review on 9 December 2022 to fix a hearing date (after the Standstill Period) for appeal.
On 7 December 2022, the Court of Appeal notified parties that the case management on 9 December 2022 had been vacated and rescheduled to 30 January 2023.
On 30 Jan, the parties requested for a further case management date in accordance with the extended Standstill Agreement. The Court of Appeal in view of no formal application of stay from the parties, fixed mention before full panel of the Court of Appeal Judges on 11 Apr 2023 to fix a hearing date and for directions. The Court of Appeal also fixed the matter for e-review on 28 Mar 2023.
On 28 March 2023, both parties informed the Appeal Court that there was no objection to the extension of the Standstill Agreement for another year. The Appeal Court maintained the next hearing on 11 April 2023 to be conducted virtually before the full panel of Appeal Court judges.
On 11 April 2023, the Appeal Court allowed 3 months for the parties to settle the matters and further informed the parties that if there is no settlement within the said period both matters will be fixed for case management to fix a hearing date. On 19 April 2023, the Appeal Court fixed case management for e-review on 13 July 2023.
On 13 July 2023, Parties requested for a hearing date and the Appeal Court set case management on 25 July 2023 via e-review to fix a hearing date.
On 25 July 2023, the Appeal Court fixed Huang Hong’s Notice of Motion for Stay for hearing on 12 October 2023 and case management on 18 September 2023 to monitor the preparation.
At the case management on 18 September 2023, the Court of Appeal maintained the hearing on 12 October 2023.
This announcement is dated 04 October 2023.
|
|
Announcement Info
| Company Name | ZECON BERHAD |
| Stock Name | ZECON |
| Date Announced | 04 Oct 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03082023-00040 |