GDB

0.330

+0.01 (+3.1%)

MATERIAL LITIGATION GDB Holdings Berhad ("GDB" or "the Company") - Originating Summons No. PA-28JM-2-5/2024 by Lime Meridian Sdn Bhd ("LMSB") to place Damai City Sdn. Bhd. ("DCSB") under judicial management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Pulau Pinang ("the Originating Summons")

GDB HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
GDB Holdings Berhad ("GDB" or "the Company") 

- Originating Summons No. PA-28JM-2-5/2024 by Lime Meridian Sdn Bhd ("LMSB") to place Damai City Sdn. Bhd. ("DCSB") under judicial management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Pulau Pinang ("the Originating Summons")
The Board of Directors of the Company wishes to inform that Grand Dynamic Builders Sdn. Bhd. (“GDBSB”), a wholly-owned subsidiary of the Company, were informed by their solicitors on 16 May 2024 that a creditor of DCSB, namely LMSB, had filed the Originating Summons in the Penang High Court to place DCSB under judicial management pursuant to Sections 404 and 405 of the Companies Act 2016.

GDBSB shall consult its solicitors to explore the next steps.

Further announcements will be made to Bursa Malaysia Securities Berhad as and when there are material developments in relation thereof.


This announcement is dated 16 May 2024. 





Announcement Info

Company Name GDB HOLDINGS BERHAD
Stock Name GDB
Date Announced 16 May 2024
Category General Announcement for PLC
Reference Number GA1-16052024-00035