UZMA

0.695

-0.01 (-1.4%)

MATERIAL LITIGATION KUALA LUMPUR HIGH COURT CIVIL SUIT UZMA ENGINEERING SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF UZMA BERHAD (UZMA OR THE COMPANY) VS KHAN CO., LTD AND KONG OFFSHORE MALAYSIA SDN. BHD.

UZMA BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
KUALA LUMPUR HIGH COURT CIVIL SUIT  UZMA ENGINEERING SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF UZMA BERHAD (UZMA OR THE COMPANY) VS KHAN CO., LTD AND KONG OFFSHORE MALAYSIA SDN. BHD.

Reference is made to the Company’s announcement made on 30th October 2019.

 

Uzma Engineering Sdn. Bhd. (“UESB”) a wholly-owned subsidiary of the Company has since filed a fresh Writ and Statement of Claim against Khan Co., Ltd (“Khan”) and Kong Offshore Malaysia Sdn. Bhd. (“Kong”) on 16th March 2021 in Kuala Lumpur High Court (“the Court”).

 

UESB, Khan and Kong were involved in a construction project known as the KNPG-B Topside Ph II, Kinabalu Non-Associated Gas (NAG) Development Project (“Project”) and disputes have arisen therein. UESB has filed afresh the said legal action against Khan and Kong for a total sum of RM63,135,051.46 and any other amount upon the determination the final sum of such over payment during trial of this action and interest.

 

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further material developments in relation thereof and/or upon receipt of any further directions by the Court.

 

This announcement is dated 16 March 2021.






Announcement Info

Company Name UZMA BERHAD
Stock Name UZMA
Date Announced 16 Mar 2021
Category General Announcement for PLC
Reference Number GA1-16032021-00094