MATERIAL LITIGATION T7 Global Berhad ("the Company" or "T7 Global") - High Court of Kuala Lumpur Suit No. WA-22IP-40-09/2022 ("Suit 40") between Tanjung Offshore Services Sdn. Bhd. (Plaintiff), and VME Process Systems Malaysia Sdn. Bhd. (1st Defendant) and VME Process Asia Pacific Pte. Ltd. (2nd Defendant)
| T7 GLOBAL BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | T7 Global Berhad ("the Company" or "T7 Global") - High Court of Kuala Lumpur Suit No. WA-22IP-40-09/2022 ("Suit 40") between Tanjung Offshore Services Sdn. Bhd. (Plaintiff), and VME Process Systems Malaysia Sdn. Bhd. (1st Defendant) and VME Process Asia Pacific Pte. Ltd. (2nd Defendant) |
|
Unless otherwise stated, the definitions used in this announcement shall have the same meanings as previously defined in the earlier announcements made in relation to the same.
Further to the Company’s announcements made on 10 September 2021, 29 October 2021, 12 May 2023, 18 July 2024, 26 June 2025 and 22 October 2025 in relation to the litigation between Tanjung Offshore Services Sdn. Bhd. (“TOS”) and VME Process System Malaysia Sdn. Bhd. and VME Process Asia Pacific Pte. Ltd. (“VME”), the Board of Directors of T7 Global Berhad wishes to provide the following updates:-
(a) On 20 November 2025, VME filed two (2) motions in the Federal Court seeking leave to appeal against the decisions of the Court of Appeal, namely Civil Application No. 08(f)-426- 11/2025(W) and Civil Application No. 08(f)-427-11/2025(W); and
(b) The said motions were heard on 5 March 2026 and were dismissed with costs as follows:- (i) Civil Application No. 08(f)-426-11/2025(W) (application relating to the appeal on the refusal to vacate the trial) – dismissed with costs of RM30,000 to be paid to TOS; and (ii) Civil Application No. 08(f)-427-11/2025(W) (application relating to the appeal against the full trial judgment) – dismissed with costs of RM50,000 to be paid to TOS.
TOS's solicitors are currently awaiting the sealed Orders from the Federal Court.
The Board will take the necessary steps to enforce the said Orders and to recover the sum of USD 5.5 million awarded to TOS in accordance with applicable law.
This announcement is dated 9 March 2026. |
|
Announcement Info
| Company Name | T7 GLOBAL BERHAD |
| Stock Name | T7GLOBAL |
| Date Announced | 09 Mar 2026 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06032026-00032 |