For consistency purposes, abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement made by the Company on 27 September 2024.

We refer to our earlier announcement dated 27 September 2024.

The Company wishes to update that the pleadings in respect of the Suit has closed with the filing and service of:

1. the defence and counterclaim (“D&CC”) by the Defendant against Onetexx on 15 November 2024 where the Defendant has alleged in their counterclaim that it has suffered loss and damage for change in delivery schedule for NBR under one purchase order and wrongful cancellation of another purchase order and has claimed the sum of USD77,522.47 for loss of profit, the aggregate sum of RM259,403.69 for various charges (comprising port charges/demeurrage, haulier charges and forwarding charges, transport charges and storage charges), general damages, interest and costs (“Counterclaim”).  

2. the reply to the D&CC (“Reply to D&CC”) by Onetexx against the Defendant on 13 December 2024 where Onetexx has denied both the Defence (save where consistent with Writ which contains our claim for the USD Claim (USD853,425.00) and the RM Claim (RM79,650.00)) and the Counterclaim in its entirety.

The Suit remains under case management with the next case management date fixed for 7 March 2025.

Further announcement(s) on material developments in respect of the above will be made to Bursa Malaysia Securities Berhad from time to time. 

This announcement is dated 21 February 2025.