The Board wishes to announce that on 25 September 2019, GHL Systems Berhad (“Company”) has been informed by its subsidiary, GHL EPayments Sdn Bhd (“eGHL” or “Defendant”) that it had been served with a sealed Writ of Summons together with Statement of Claim both dated 19 September 2019 (“Writ”) by Messrs. Shukor Baljit & Partners, the solicitors acting for Bestinet Sdn Bhd (“Plaintiff”).

The Plaintiff alleges that the Defendant has misrepresented and breached the contract with respect to the development, management and maintenance of digital wallet. As a result of that, the Plaintiff suffers loss and claims for the following:

a)         Judgment for the amount of RM371,000.00;

b)         Pre-judgment interest at the rate of 5% per annum on the amount of RM371,000.00 from the date of filing of the Writ up to the date of judgment;

c)         Interest at the rate of 5% per annum on the amount of RM371,000.00 from the date of judgment to the date of full and final payment;

d)         General damages of RM3,362,492.34 to be assessed by the Court;

e)         Interest at the rate of 5% per annum on general damages from the date of judgment up to the date of full and final payment;

f)          Costs; and

g)         Any further or other relief as the Court deems fit.

As at the date of this announcement, there is no material financial and operational impact arising from the Writ on eGHL and the Company.

Messrs. Shearn Delamore & Co. has been appointed as solicitors to represent eGHL and is preparing the Statement of Defence accordingly.

Further announcements will be made as and when there are material developments on the above matter.

This announcement is dated 26 September 2019.