GHLSYS

0.640

+0.005 (+0.8%)

MATERIAL LITIGATION MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD - UPDATE

GHL SYSTEMS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION PURSUANT TO PARAGRAPH 9.04(F) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD - UPDATE

Reference is made to GHL Systems Berhad's ("the Company") announcement dated 26 September 2019 in relation to a material litigation.

 

The Board of Directors of the Company wishes to announce that after hearing the oral submissions from both Bestinet Sdn Bhd and GHL EPayments Sdn Bhd, the wholly-owned subsidiary of the Company on 30 May 2022, the Kuala Lumpur High Court had decided as follows:

  1. That Bestinet Sdn Bhd’s ("the Plaintiff") claim be dismissed;
  2. That GHL EPayments Sdn Bhd’s ("the Defendant") counterclaim is allowed, namely for the two outstanding Invoice No. 10000867 dated 31 December 2018 and Invoice No. 2019000225 dated 31 May 2019 for a total sum of RM185,500.00 at RM92,750.00 each with interest;
  3. That the Defendant is awarded damages for a sum of RM10,000.00; and
  4. That the Defendant is awarded costs in a sum of RM30,000.00, subject to allocatur fee.

This announcement is dated 30 May 2022.






Announcement Info

Company Name GHL SYSTEMS BERHAD
Stock Name GHLSYS
Date Announced 30 May 2022
Category General Announcement for PLC
Reference Number GA1-30052022-00046