Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the announcement dated 13 October 2025 in relation to the Material Litigation.
The Board of ES Sunlogy wishes to announce the additional information in relation to the Material Litigation as required by Bursa Malaysia Securities Berhad (“Bursa Securities”) via its email dated 14 October 2025, as follows:
1. To specify the date the Court of Appeal rendered its decision on the Total Judgment Sum payable by Savelite (“Court’s Decision”).
The Court of Appeal rendered its decision on the Total Judgment Sum payable by Savelite on 22 July 2025.
2. To specify the date Savelite received letter of demand from Askey for the Total Judgment Sum (“Demand”).
Savelite received the letter of demand from Askey for the Total Judgment Sum on 30 September 2025.
3. To state the reason(s) for the delays in making timely and immediate announcements on the Court’s Decision, the Demand and the settlement of the Total Judgment Sum at each relevant point in time.
Update in relation to Court’s Decision has been made in the “Material Litigation” section of Fourth Quarterly Results made up to 31 July 2025 which was released on 29 September 2025.
Upon receipt of the Demand, Savelite has vide its solicitors engaged in protracted negotiations with Askey, with proposals and counter-proposals (as announced on 13 October 2025). Upon both parties reaching a consensus on 13 October 2025 in respect of the mode of settlement of the judgement sum, an announcement was released on 13 October 2025.
4. To provide a confirmation as to whether Savelite is a major subsidiary of SUNLOGY by stating the percentage of its contribution over profit before tax or total assets employed of the Company on a consolidated basis as defined under Rule 1.01 of the ACE Market Listing Requirements of Bursa Securities.
Savelite is a major subsidiary of ES Sunlogy as defined under Rule 1.01 of the ACE Market Listing Requirements of Bursa Securities.
For the 2025 Fourth Quarterly Report, Savelite’s contribution represented 100% of the Group’s profit before tax on a consolidated basis, as ES Sunlogy (on a company basis) and Energy ES Sdn Bhd contributed to a loss before tax.
5. To state the financial and operational impact of the Court’s Decision obtained against Savelite on the Company and its subsidiaries (“Group”).
The Court’s Decision is not expected to have any material financial impact on the Group, as adequate provision for the judgment sum had been made in the prior financial years. Likewise, the Court’s Decision is not anticipated to have any material operational impact on the Group, as appropriate measures had been taken in anticipation of this outcome.
The Company would like to highlight that appropriate disclosures in respect of the above Material Litigation has already been made in the Company’s Prospectus dated 27 January 2025 and that relevant provisions have already been made in the financial statements for the financial years ended 31 July 2023 and 31 July 2024.
This announcement is dated 15 October 2025.
Remarks:
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.