ZECON

0.420

+0.02 (+5%)

OTHERS MONTHLY ANNOUNCEMENT ON THE STATUS OF DEFAULT IN PAYMENT PURSUANT TO RULE 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

ZECON BERHAD

Type Announcement
Subject OTHERS
Description
MONTHLY ANNOUNCEMENT ON THE STATUS OF DEFAULT IN PAYMENT PURSUANT TO RULE 9.19A OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

Reference is made to our announcement dated 02 November, 2018, 07 December, 2018, 09 January, 2019, 13 February, 2019, 18 March 2019, 15 April 2019, 08 May 2019, 12 June 2019, 01 July 2019, 01 August 2019, 03 September 2019, 04 October 2019, 4 November 2019, 04 December 2019, 07 January 2020, 06 February 2020, 09 March 2020, 06 April 2020, 06 May 2020, 05 June 2020, 03 July 2020, 04 August 2020, 03 September 2020, 02 October 2020, 04 November 2020, 07 December 2020, 05 January 2021 and 03 February 2021 (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

As regards the Writ of Summon between Affin Hwang Investment Bank Berhad, Bank Pembangunan Malaysia Berhad and Affin Bank Berhad (collectively referred to as “Plaintiff”), and Zecon Berhad (Company), the Company filed the Notice of Appeal on 11 August 2020 against the summary judgement and strike out of the Company’s counterclaim granted to the Plaintiff by the Court, Parties are still waiting for the draft order pending the Judge’s decision. To-date, there has been no development since.

 

As regards the Originating Summon between Affin Hwang Investment Bank Berhad (Plaintiff) and Huang Hong Sdn Bhd (Huang Hong), there was no tender bid received from the public tender held on 11 November 2020 for the charged land as per the order to sale granted to the Plaintiff by the Court.

 

On 9 December 2020, the Plaintiff filed to the Court an application to fix the reduced reserve price for the charged land and a new date of tender.  On 20 January 2021, the Court granted the Plaintiff’s application and fixed the public tender on 7 April 2021.

 

As regards the Writ of Summon and Statement of Claim between Huang Hong Sdn Bhd (Huang Hong) and Affin Hwang Investment Bank Berhad, Bank Pembangunan Malaysia Berhad and Affin Bank Berhad (Defendant), on 23 February 2021, the Court found that there are triable issues which required a full trial and dismissed the Defendant’s application to strike out Huang Hong’s Statement of Claim with cost of RM5,000.  The Court fixed the matter for e-review on 31 March 2021.

 

This announcement is dated 16 March 2021.






Announcement Info

Company Name ZECON BERHAD
Stock Name ZECON
Date Announced 16 Mar 2021
Category General Announcement for PLC
Reference Number GA1-16032021-00028