The Board of Directors of Classita wishes to inform that Caely (M) Sdn Bhd, a wholly-owned subsidiary of the Company (“Caely-M”) had, on 27 November 2023 been served with a copy of the sealed Writ dated 21 November 2023 and a copy of the sealed Statement of Claim dated 21 November 2023 in relation to the claims filed by Tract Evo Sdn Bhd (“Plaintiff”) through a firm of lawyers acting on their behalf. The matter is fixed for case management on 18 December 2023.

Particulars of claim and circumstances leading to filing of the Writ and Statement of Claim

According to the Statement of Claim, the Plaintiff had, in 2013 carried out construction and installation works for Caely-M in relation to a residential project known as “Pembangunan Rancangan Perkampungan Tersusun Bandar Baru Seberang Perak, Changkat Lada, Mukim Pasir Salak, Daerah Perak Tengah, Perak Darul Ridzuan” (“Project”). As of 21 November 2023, there are outstanding sum of RM1,675,352.25.

The Plaintiff seek against Caely-M, the following:

1) the sum of RM1,675,352.25;
2) interest of 5% on RM1,675,352.25 calculated from the date of judgement until the date of payment;
3) costs of this action; and
4) such further relief and/or other relief as the Court deems fit.

Financial and Operational Impact

The suit is not expected to have any operational impact on the Caely-M.

If the claim is allowed granted by the court, the Company is require to recognise the claim amount and any additional cost or interest granted (if any).

Expected losses to the Group, if any

Caely-M is exposed to the claims as stated above and legal expenses.

Steps taken by Caely-M

Caely-M is seeking legal advice on the matter and any material development will be announced accordingly.

This announcement is dated 27 November 2023.