SUNLOGY

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MATERIAL LITIGATION ES Sunlogy Berhad ("ES Sunlogy" or "the Company") - Court of Appeal of Malaysia Civil Appeal No. P-02(Ncvc)(W)-68-01/2024: Savelite Engineering Sdn Bhd ("Savelite" or "Appellant") vs Askey Media Technology Sdn Bhd ("Askey" or "Respondent")

ES SUNLOGY BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
ES Sunlogy Berhad ("ES Sunlogy" or "the Company") - Court of Appeal of Malaysia Civil Appeal No. P-02(Ncvc)(W)-68-01/2024: Savelite Engineering Sdn Bhd ("Savelite" or "Appellant") vs Askey Media Technology Sdn Bhd ("Askey" or "Respondent")
Reference is made to Section 12.7.1(a) of the Company’s Prospectus issued on 27 January 2025 (“Prospectus”) and Item B11(A) of the Unaudited Interim Financial Report for the Fourth Quarter ended 31 July 2025 of the Company (“2025 Fourth Quarterly Report”) announced on 29 September 2025 in relation to the Penang High Court Civil Suit No.: PA-22NCvC-56-02/2019 – Askey (Plantiff) and Savelite (Defendant).

Unless otherwise defined, all terms used herein shall have the same meaning as those defined in the Prospectus and the 2025 Fourth Quarterly Report.

The Board of Directors (“Board”) of ES Sunlogy wishes to announce that Savelite, a wholly-owned subsidiary of the Company, received a letter of demand by Askey via its solicitors, to pay the total judgment sum owing as at 1 October 2025 amounting to RM1,112,579.36 (“Total Judgement Sum”), of which the breakdown of the Total Judgment Sum is as follows:-

1. The principal sum of RM768,900.00;
2. Total interest incurred up to 1 October 2025 of RM333,679.36; and
3. Costs of RM10,000.00.

After several counterproposals between Savelite and Askey on the terms and conditions of the payment of the Total Judgement Sum, Savelite had on 8 October 2025 via its solicitors, and Askey had on 9 October 2025 via its solicitors, both agreed to the Total Judgement Sum to be settled as follows in order to comply with the Judgement on a strictly without prejudice basis and as a full and final settlement of the said Judgement:-

1. Savelite to pay the costs of RM10,000.00 to Askey;

2. Savelite to pay the principal sum together with interest at a rate of 5% per annum via monthly payment of eight (8) post-dated cheques covering the instalment period of eight (8) months from 15 October 2025 to 15 May 2026, which amounting to RM1,120,733.39;

3. Savelite to deliver the said eight (8) post-dated cheques to Askey’s solicitors on or before 15 October 2025;

4. Askey undertakes not to file any execution proceedings and/or winding-up proceedings against Savelite pursuant to the Court Judgement dated 22 July 2025 and High Court Judgement dated 8 January 2024 until full payment in May 2026, strictly on the condition that Savelite’s acceptance of Askey’s proposal and duly fulfils the undertaking to pay the principal sum together with interest at the rate of 5% per annum via eight (8) post-dated cheque, in accordance with the terms set out in this letter.

Savelite will pay the costs of RM10,000.00 to Askey and the said eight (8) post-dated cheques will be delivered to Askey’s solicitors on or before 15 October 2025.

The Company will make further announcements as and when there are material developments on the above matter.

M & A Securities Sdn Bhd (“M&A”), being the Sponsor, was responsible for the admission of ES Sunlogy to the ACE Market of Bursa Securities on 20 February 2025. M&A assumes no responsibility for the contents of this announcement.

This announcement is dated 13 October 2025.
 
 
 





Announcement Info

Company Name ES SUNLOGY BERHAD
Stock Name SUNLOGY
Date Announced 13 Oct 2025
Category General Announcement for PLC
Reference Number GA1-10102025-00059