The Board of Directors of GOODWAY wishes to announce that its wholly owned subsidiary, GRI had on 7 July 2020 received the Sealed Writ No.: WA-22NCC-275-07/2020 (“Writ”) and Statement of Claim dated 3 July 2020 from Messr. Gary Teh & Ngiam, the solicitors for API.

Pursuant to the Writ and Statement of Claim, the Plaintiff claimed the following from GRI:-

1. Total outstanding amount of RM948,265.20;

2. Interest rate at 1% per month or a rate which the Honourable Court deems fit on the sum awarded from1 April 2020 to the date of the Writ;

3. Interest rate at 5% per annum on  on the sums awarded from the date of the Judgement and continuing until full settlement of sums ;

4. Costs; and

5. Such further and/or other relief as the Honourable Court deems fit.

The Writ and Statement of Claim against GRI was due to GRI had failed to pay the Plantiff’s outstanding sum for supply of rubber plus interest accrued thereon.

Further to the above, the Court had on 20 July 2020, fixed the matter for further case management by way of e-review on 28 July 2020.

Save for the legal fees and disbursements involved to challenge and oppose the Writ and Statement of Claim, the litigation is not expected to have other financial and operational impact will not affected the operational in the Group level.

GRI is seeking the necessary legal advice to resolve and/or defend against the legal suit.

Further announcement will be made of any material development changes as and when appropriate.

This announcement is dated 24 July 2020.