MATERIAL LITIGATION TAGHILL HOLDINGS BERHAD (FORMERLY KNOWN AS SIAB HOLDINGS BERHAD) ("TAGHILL" OR THE "COMPANY") UPDATE ON THE NOTICE OF ADJUDICATION UNDER THE CONSTRUCTION INDUSTRY PAYMENT AND ADJUDICATION ACT 2012 ("CIPAA") BY ITS WHOLLY-OWNED SUBSIDIARY, TAGHILL PROJECTS SDN BHD ("TPSB" OR THE "CLAIMANT") AGAINST DREAMLIKE DEVELOPMENT SDN BHD ("DDSB" OR THE "RESPONDENT") ("ADJUDICATION")
| TAGHILL HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | TAGHILL HOLDINGS BERHAD (FORMERLY KNOWN AS SIAB HOLDINGS BERHAD) ("TAGHILL" OR THE "COMPANY")
UPDATE ON THE NOTICE OF ADJUDICATION UNDER THE CONSTRUCTION INDUSTRY PAYMENT AND ADJUDICATION ACT 2012 ("CIPAA") BY ITS WHOLLY-OWNED SUBSIDIARY, TAGHILL PROJECTS SDN BHD ("TPSB" OR THE "CLAIMANT") AGAINST DREAMLIKE DEVELOPMENT SDN BHD ("DDSB" OR THE "RESPONDENT") ("ADJUDICATION") |
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Reference is made to the Company’s announcements dated 13 March 2025, 15 April 2025, 9 May 2025, 10 June 2025 and 14 July 2025 in relation to the CIPAA served by its wholly-owned subsidiary, TPSB against DDSB.
The Board of Directors of Taghill wishes to announce that TPSB has received an adjudication decision dated 17 September 2025 (“Adjudication Decision”). The Adjudicator has determined and delivered his decision in favour of TPSB, brief details of the Adjudication Decision are as follows:
The Adjudicator has ordered DDSB to pay to TPSB for the following within 14 days from the date of the decision:
Background
TPSB was appointed as the main contractor by DDSB pursuant to a Letter of Award dated
On 13 March 2025, TPSB submitted a Payment Claim for RM4.91 million in respect of certified and uncertified work done under the contract. The matter proceeded to adjudication under CIPAA, culminating in the decision received on 17 September 2025.
In the Adjudication Decision, the Adjudicator:
Financial and Operational Effect
The Adjudication Decision is not expected to have any material impact on the earnings and cash flows of Taghill and its subsidiaries (collectively the “Group”) for the financial year ending 31 May 2025. The Adjudication Decision is not expected to have any material impact on the operations of the Group.
The Company will make further announcements as and when there are material developments in respect of this matter, in compliance with the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.
This announcement is dated 18 September 2025 |
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Announcement Info
| Company Name | TAGHILL HOLDINGS BERHAD |
| Stock Name | TAGHILL |
| Date Announced | 18 Sep 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18092025-00098 |