Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.

CABNET

0.220

(%)

MATERIAL LITIGATION (1)Shah Alam High Court (Construction Court)Suit No. BA-24C-5-01/2019 between Cabnet Systems (M) Sdn Bhd (Cabnet Systems)(Plaintiff),Dekad Kaliber Sdn Bhd (Dekad Kaliber)(1st Defendant) and Rimarisan Sdn Bhd (Rimarisan)(2nd Defendant)(Construction Court Suit);and (2)Shah Alam High Court (Civil Division)Suit No. BA-22NCvC-28-01/2019 between Cabnet Systems (Plaintiff), Dekad Kaliber (1st Defendant) and Rimarisan (2nd Defendant)(Civil Court Suit)

CABNET HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
(1)Shah Alam High Court (Construction Court)Suit No. BA-24C-5-01/2019 between Cabnet Systems (M) Sdn Bhd (Cabnet Systems)(Plaintiff),Dekad Kaliber Sdn Bhd (Dekad Kaliber)(1st Defendant) and Rimarisan Sdn Bhd (Rimarisan)(2nd Defendant)(Construction Court Suit);and

(2)Shah Alam High Court (Civil Division)Suit No. BA-22NCvC-28-01/2019 between Cabnet Systems (Plaintiff), Dekad Kaliber (1st Defendant) and Rimarisan (2nd Defendant)(Civil Court Suit)

We refer to the announcements issued on 25 February 2019, 6 March 2019, 9 April 2019, 18 April 2019, 3 May 2019, 23 May 2019, 3 June 2019, 21 June 2019, 31 July 2019, 20 August 2019, 8 October 2019, 20 December 2019, 21 January 2020, 17 February 2020, 28 February 2020, 3 March 2020 and 1 April 2020 in relation to the abovesaid Construction Court Suit and Civil Court Suit (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meanings stated in the Announcements.

 

The Company wishes to announce the following updates based on the hearing held on 8 April 2020 for the Construction Court Suit.

 

Construction Court Suit

 

On 2 April 2020, 2nd Defendants has written to the Court to request for an extension of the conditional stay for 1 month after the Movement Control Order (“MCO”) period. On 5 April 2020, the Court had instructed 2nd Defendant to file a formal application to request for the said extension. During the hearing held on 8 April 2020, the Court was of the view that the MCO period deems as special circumstances that will lead to an extension and/or alteration of the conditional stay order given previously. However, the Court denied 2nd Defendant request to extend the conditional stay for 1 month after the MCO period because there is no certainty as to when the MCO will end and the Judge then proceeded to make the following orders:-

  • Regardless of the MCO period, the conditional stay is allowed for an extension of 1 month from 8 April 2020 to 8 May 2020 for 2nd Defendant to deposit the said sum;
  • Instead of depositing the said sum into a joint solicitor’s account, the said sum must now be deposited solely into the Plaintiff’s solicitor’s account. This is to ensure that parties do not have to risk to going to the bank and breaching any MCO regulations; and
  • Cost of RM5,000.00 is to follow the cause of events at the Appeal.

 

As at the date of this announcement, there are no material developments in relation to the Civil Court Suit. Any further material developments to the abovementioned Construction Court Suit and the Civil Court Suit will be announced as and when these developments materialise.

 

This announcement is dated 9 April 2020.






Announcement Info

Company Name CABNET HOLDINGS BERHAD
Stock Name CABNET
Date Announced 09 Apr 2020
Category General Announcement for PLC
Reference Number GA1-09042020-00031