MAGMA

0.195

-0.005 (-2.5%)

MATERIAL LITIGATION MAGMA GROUP BERHAD (FORMERLY KNOWN AS IMPIANA HOTELS BERHAD) ("MAGMA" OR "THE COMPANY") UPDATES ON MATERIAL LITIGATION KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO: WA-22NCC-392- 06/2023 BETWEEN PUBLIC BANK BERHAD ("PLAINTIFF") AGAINST ASTAKA MEKAR SDN BHD, DATA SEPADU SDN BHD, IMPIANA SDN BHD AND DATO' SERI ISMAIL @ FAROUK BIN ABDULLAH ("DEFENDANTS") [THE SUIT]

MAGMA GROUP BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MAGMA GROUP BERHAD (FORMERLY KNOWN AS IMPIANA HOTELS BERHAD) ("MAGMA" OR "THE COMPANY")

UPDATES ON MATERIAL LITIGATION  KUALA LUMPUR HIGH COURT OF MALAYA CIVIL SUIT NO: WA-22NCC-392- 06/2023 BETWEEN PUBLIC BANK BERHAD ("PLAINTIFF") AGAINST ASTAKA MEKAR SDN BHD, DATA SEPADU SDN BHD, IMPIANA SDN BHD AND DATO' SERI ISMAIL @ FAROUK BIN ABDULLAH ("DEFENDANTS") [THE SUIT]

Reference is made to the Company's earlier announcements dated 14 June 2023, 22 June 2023, 16 August 2023, 1 November 2023, 15 November 2023, 6 December 2023 and 5 January 2024 in relation to the Suit. Unless otherwise defined, the definitions used in this announcement shall have the same meanings as those defined in the announcements.

 

The Board of Directors of Magma wishes to announce that during the Case Management held on 9 January 2024, the Court has granted permission for the Plaintiff to withdraw the Suit against the Defendants. This withdrawal is with the liberty to file a fresh and without any order as to costs.

 

This announcement is dated 10 January 2024.






Announcement Info

Company Name MAGMA GROUP BERHAD
Stock Name MAGMA
Date Announced 10 Jan 2024
Category General Announcement for PLC
Reference Number GA1-09012024-00026