MATERIAL LITIGATION CUSCAPI BERHAD ("CUSCAPI" OR "THE COMPANY") - Writ of Summon and Statement of Claim (Hight Court of Malaya at Kuala Lumpur Suit No. WA-22NCvC-542-09/2023) - Her Chor Siong ("the Plaintiff") v the Company ("the 1st Defendant") & Former Principal Officer ("the 2nd Defendant") (collectively referred as "the Defendants")
| CUSCAPI BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | CUSCAPI BERHAD ("CUSCAPI" OR "THE COMPANY")
- Writ of Summon and Statement of Claim (Hight Court of Malaya at Kuala Lumpur Suit No. WA-22NCvC-542-09/2023)
- Her Chor Siong ("the Plaintiff") v the Company ("the 1st Defendant") & Former Principal Officer ("the 2nd Defendant") (collectively referred as "the Defendants") |
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The Board of Directors (“the Board”) of Cuscapi wishes to announce that the Company had been on 2 October 2023 served with a letter dated 2 October 2023 from Messrs. K S Chew & Associates, accompanied with a Writ of Summon and Statement of Claim dated 29 September 2023 respectively.
The details of the claims are as below:-
(a) the Plaintiff claimed that the Defendants had published defamatory statements via the letters of complaint dated 24 September 2018 to third parties (herein after referred to as “the Letters”).
(b) the Plaintiff further alleged that the Defendants had published and repeated the alleged defamatory statements in the Company’s Defence and Counter Claim in the Kuala Lumpur High Court Suit No: WA-22NCC-399-09/2018, Company’s announcement dated 29 October 2018 on Bursa Malaysia Securities Berhad (“Bursa Announcement”) and reports lodged with the authorities.
The reliefs sought by the Plaintiff are, inter alia as below:-
(a) a public apology and retraction of the Letters, Bursa Announcement and the reports lodged with authorities via news portals of Plaintiff’s choice;
(b) an undertaking that the Defendants will not repeat the alleged defamatory words in any form;
(c) damages amounting to RM 20,000,000.00;
(d) aggravated damages;
(e) exemplary damages;
(f) an interest on the damages awarded at the rate of 5% from the date of judgement and thereafter to the date of realisation;
(g) costs; and
(h) further orders that the Court deems fit and proper to be made.
The Board is seeking the necessary legal advice from its solicitors to resolve and/or defend against this matter.
The Board is of the view that saved for the above - mentioned potential liability, the dispute is not expected to have any material financial and operational impact on Cuscapi Group.
The Board will continue to take all necessary actions and pursue all available remedies to defend and protect the Company’s position.
Further announcements on the material development of the above matter will be made from time to time, where necessary.
This announcement is dated 3 October 2023. |
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Announcement Info
| Company Name | CUSCAPI BERHAD |
| Stock Name | CUSCAPI |
| Date Announced | 03 Oct 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03102023-00057 |