MATERIAL LITIGATION IKHMAS JAYA GROUP BERHAD DALAM MAHKAMAH TINGGI SHAH ALAM WRIT SAMAN NO: BA-22NCVC-378-09/2019 SYARIKAT LOGAM UNITRADE SDN BHD (the Plaintiff) vs 1. IKHMAS JAYA SDN BHD (IJSB OR THE 1ST DEFENDANT) 2. IKHMAS JAYA GROUP BERHAD (IJGB OR THE 2ND DEFENDANT)
| IKHMAS JAYA GROUP BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | IKHMAS JAYA GROUP BERHAD DALAM MAHKAMAH TINGGI SHAH ALAM WRIT SAMAN NO: BA-22NCVC-378-09/2019 SYARIKAT LOGAM UNITRADE SDN BHD (the Plaintiff) vs 1. IKHMAS JAYA SDN BHD (IJSB OR THE 1ST DEFENDANT) 2. IKHMAS JAYA GROUP BERHAD (IJGB OR THE 2ND DEFENDANT) |
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Further to the announcement dated 6 September 2019, the Board of Directors of IJGB wishes to announce that the 1st defendant had on 22 November 2019 entered into a Settlement Agreement with the Plaintiff for the settlement of the balance of the amount owing by the 1st defendant of RM10,939,431.36 to the Plaintiff as at 31 October 2019 (“Outstanding Sum”) and the continuing additional late payment charges and additional back-charges for scaffolding supplied, the latter which amounts to RM429,706.50.
The settlement of the amount owing will be made partly in cash and in kind by the transfer of an equivalent of 8.46 square feet service apartments in Damai 88 valued at RM1250 per square foot for an amount of RM10,575,000.00.
Please refer to the attachment for further information.
This announcement is dated 25 November 2019. |
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Please refer attachment below.
Announcement Info
| Company Name | IKHMAS JAYA GROUP BERHAD |
| Stock Name | IKHMAS |
| Date Announced | 25 Nov 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25112019-00092 |