Reference is made to the Company’s announcement dated 31 March 2021 in relation to the Civil Suit commenced by MMSB against its subsidiary, EMSB. Unless otherwise defined, the definitions set out in the Announcement shall apply herein. 

The Company wishes to announce that MMSB has on 29 December 2022 discontinued and withdrew the Civil Suit against EMSB with no liberty to file afresh and with no order as to costs pursuant to a settlement agreement between EMSB and MMSB (“Settlement Agreement”).

The Settlement Agreement was entered into by the parties without any admission as to liability and as full and final settlement of all claims, disputes and/or differences arising out of and/or in connection with the Contract No: BEMS/NR/18-0159 dated 8 November 2019 and the Civil Suit.  

The salient terms of the Settlement Agreement are as follows: -

a) EMSB will pay a settlement sum of RM1,230,524.85 to MMSB. Included in the settlement sum is the claim on assets and equipment purchased by MMSB.

b) The parties also agreed to enter into a new contract for EMSB to appoint MMSB to provide hospital maintenance support services. 

c) The validity and commencement of the new contract shall be conditional upon discontinuance of the Civil Suit and fulfilment of all conditions precedent in the new contract. 

The withdrawal of the Civil Suit and the Settlement Agreement have no material financial and operational impact on UEM Edgenta and its subsidiary, EMSB.

This announcement is dated 29 December 2022.