MATERIAL LITIGATION TCS GROUP HOLDINGS BERHAD ("TCS" OR "COMPANY") SHAH ALAM HIGH COURT CIVIL SUIT NO. BA-22NCvC-269-07/2021 AIAC ADJUDICATION NO. AIAC/D/ADJ-3778-2021 MPM PROJECT MANAGEMENT SDN. BHD. ("MPM PROJECT MANAGEMENT") V TCS CONSTRUCTION SDN. BHD. ("TCSCSB")
| TCS GROUP HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | TCS GROUP HOLDINGS BERHAD ("TCS" OR "COMPANY")
SHAH ALAM HIGH COURT CIVIL SUIT NO. BA-22NCvC-269-07/2021
AIAC ADJUDICATION NO. AIAC/D/ADJ-3778-2021
MPM PROJECT MANAGEMENT SDN. BHD. ("MPM PROJECT MANAGEMENT") V TCS CONSTRUCTION SDN. BHD. ("TCSCSB") |
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Reference is made to the Company's announcement dated 26 July 2022.
On 15 September 2022, the Adjudicator, Ms Karen Ng Gek Suan has released the Adjudication Decision relating to Adjudication Proceeding bearing registration no. AIAC/D/ADJ-3778-2021 dated 13 September 2022 pursuant to Construction Industry Payment & Adjudication Act 2012 against MPM Project Management.
In the decision, MPM Project Management has been ordered to pay to TCSCSB in the sum of RM 6,141,557.77 (“adjudicated sum”), plus interests at the rate of 5% per annum on the adjudicated sum from 4 July 2020 until the date of full payment, which is approximately RM 675,571.35 as at 15 September 2022 plus all costs incurred in relation to the adjudication proceedings of RM 105,600.00.
MPM Project Management has been ordered to pay TCSCSB on the above sum within 14 days from the date of the Adjudication Decision dated on 13 September 2022.
Any further material development of the above matter will be announced in due course.
This announcement is dated 19 September 2022. |
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Announcement Info
| Company Name | TCS GROUP HOLDINGS BERHAD |
| Stock Name | TCS |
| Date Announced | 19 Sep 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19092022-00016 |