BENALEC

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MATERIAL LITIGATION BENALEC HOLDINGS BERHAD ("BENALEC" OR "THE COMPANY") Update on litigation (Original action - Kuala Lumpur High Court Suit No.: 22NCVC-204-04/2015)

BENALEC HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
BENALEC HOLDINGS BERHAD ("BENALEC" OR "THE COMPANY")
Update on litigation (Original action - Kuala Lumpur High Court Suit No.: 22NCVC-204-04/2015)

(Unless otherwise stated, all abbreviations and definitions used in this announcement shall have the same meaning as those defined in the announcements dated 7 May 2015, 18 May 2015, 3 June 2015, 23 July 2015, 31 October 2018 and 16 November 2020). The details are as follows:-

 

·           Sentosacove Sdn Bhd (“SSB”)

·           Datuk Leaw Tua Choon (“DLTC”)

·           Datuk Leaw Ah Chye (“DLAC”)

 

 

SSB, DLTC and DLAC had filed an application for leave to appeal to the Federal Court against the Court of Appeal Order as disclosed in Page 136, Note 34 – Material Litigation of the Company’s Annual Report 2021. On 6 September 2022, SSB, DLTC and DLAC withdrew the leave application to the Federal Court without liberty to file afresh.

 

In view of the above, the only pending matter is the assessment of damages which is to be decided by the High Court following the Court of Appeal Order.

 

The management of Benalec is unable to quantify the material impact on the earnings, net assets and gearing of the Company as at the date of announcement until the decision of the High Court pertaining to the assessment of damages is finalised.  

 

This announcement is dated 19 September 2022.






Announcement Info

Company Name BENALEC HOLDINGS BERHAD
Stock Name BENALEC
Date Announced 19 Sep 2022
Category General Announcement for PLC
Reference Number GA1-19092022-00028