MATERIAL LITIGATION TCS GROUP HOLDINGS BERHAD ("TCS" OR "COMPANY") KUALA TERENGGANU HIGH COURT ORIGINATING SUMMONS NO: TA-24C-1-10/2022 KTCC MALL SDN. BHD. ("KTCCMSB") V TCS CONSTRUCTION SDN. BHD. ("TCSCSB") IN RELATION TO: SHAH ALAM HIGH COURT CIVIL SUIT NO. BA-22C-27-07/2021 AIAC ADJUDICATION NO. AIAC/D/ADJ-3778-2021 TCS CONSTRUCTION SDN. BHD. (TCSCSB) V MPM PROJECT MANAGEMENT SDN. BHD. (MPM PROJECT MANAGEMENT)
| TCS GROUP HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | TCS GROUP HOLDINGS BERHAD ("TCS" OR "COMPANY")
KUALA TERENGGANU HIGH COURT ORIGINATING SUMMONS NO: TA-24C-1-10/2022
KTCC MALL SDN. BHD. ("KTCCMSB") V TCS CONSTRUCTION SDN. BHD. ("TCSCSB")
IN RELATION TO:
SHAH ALAM HIGH COURT CIVIL SUIT NO. BA-22C-27-07/2021
AIAC ADJUDICATION NO. AIAC/D/ADJ-3778-2021
TCS CONSTRUCTION SDN. BHD. (TCSCSB) V MPM PROJECT MANAGEMENT SDN. BHD. (MPM PROJECT MANAGEMENT) |
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Reference is made to the Company's announcement dated 19 September 2022.
On 21 September 2022, TCSCSB submitted a notice for direct payment to KTCCMSB to pay the adjudicated sum and related costs on behalf of MPM Project Management. The notice for direct payment was issued based on a letter of undertaking dated 19 September 2018 issued by KTCCMSB to TCSCSB that KTCCMSB undertake to settle on behalf of MPM Project Management in the event that MPM Project Management defaults in settling the outstanding amount due to TCSCSB within 14 days from the date of receiving the payment request from TCSCSB. Alternatively, the notice for direct payment was also made in accordance with Section 30 of the Construction Industry Payment and Adjudication Act 2012 ("CIPAA 2012").
On 21 October 2022, KTCCMSB has filed an originating summons against TCSCSB applying for amongst others, declaratory orders that KTCCMSB has no obligations to make payment to TCSCSB on behalf of MPM Project Management pursuant to Section 30 of CIPAA 2012 and / or the Letter of Undertaking dated 19 September 2018.
On 28 October 2022, TCSCSB has filed an Originating Summons against KTCCMSB pursuant to Section 30 CIPAA 2012 for direct payment of the adjudicated sum pursuant to the Adjudication Decision dated 13 September 2022.
The Company will make the necessary announcements on further developments of the above matter as and when necessary.
This announcement is dated 28 October 2022. |
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Announcement Info
| Company Name | TCS GROUP HOLDINGS BERHAD |
| Stock Name | TCS |
| Date Announced | 28 Oct 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28102022-00039 |