We refer to the Company’s announcements made on 24 July 2023, 7 August 2023, 19 September 2023, 25 September 2023, 11 October 2023, 3 November 2023 and 30 November 2023 in respect of the originating summons filed by Tunai Impian Enterprise Sdn Bhd (“TIESB”).

The Company’s solicitors had notified the Company that on 16 January 2024, this matter came up for Hearing of the Notice of Applications to intervene (“Intervener Applications”) filed by Alliance Bank Malaysia Berhad and HSBC Bank Malaysia Berhad (“Interveners”) and the Originating Summons filed by TIESB.

TIESB’s counsel informed the Court that they had no objection to the Intervener Applications and sought for costs in the cause. Upon confirmation by the Interveners’ counsel, the Court allowed the Intervener Applications with costs in the cause.

Since the Interveners have now intervened in the proceedings, the Court has vacated the hearing of the Originating Summons to regulate the exchange of affidavits and submissions with the Interveners. The Court had given the following directions:

(a) the Interveners to file their respective affidavit with respect to the Originating Summons by 30 January 2024;

(b) parties to file reply affidavit (if any) to the Interveners’ affidavits by 13 February 2024;

(c) parties to file written submissions by 13 March 2024; and

(d) the hearing for the Originating Summons has been fixed on 22 March 2024.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments in relation thereof and/or upon receipt of any further directions by the Court. 

This announcement is dated 16 January 2024.