1. Introduction

The Board of Directors of Asdion Berhad (“Asdion” or “the Company”) wishes to announce that Asdion Property Management Sdn Bhd, the wholly-owned subsidiary of the Company (“the Defendant”) had on 13 May 2025 noted the advertisement in relation to the Petition to wind-up the Defendant as filed by the Plaintiff. The Hearing Petition to wind-up was directed to be heard on 10 July 2025.

2. The particulars of the claim under the Writ of Summons and Statement of Claim, including the amount  claimed for and the interest rate

Based on the records of the Company, the Plaintiff claimed the following from the Defendant:

1. The total outstanding rental payment sum of RM27,741.93;
2. Interest of RM645.80 on the rent arrears of RM27,741.93 as at 8 August 2023;
3. Interest at the rate of 8% per annum on the total sum of RM27,741.93 calculated from 9 August 2023 until the date of full settlement;
4. Double rent of RM10,000.00 per month from 1 August 2023 until the date the Defendant surrenders the vacant possession of the premises known as SO-13A-3A, Menara 1, No. 3, Jalan Bangsar, Kg. Haji Abdullah Hukum, 59200 Kuala Lumpur in good and satisfactory condition;
5. Interest at the rate of 5% per annum on the double rent of RM10,000.00 per month from 1 August 2023 until the date the Defendant surrenders the vacant possession of the premises in good and satisfactory condition;
6. Costs of RM3,500.00; and
7. The sum of RM115,707.46 as of 3 May 2024 (and still accruing) is still owed.

3. Details of the default or circumstances leading to the filing of the Writ and Statement of Claim against Defendant

The circumstances leading to the filing of the Writ against the Defendant was due to the fact that the Defendant has failed to settle the outstanding payment sum for the rental at the premises mentioned above provided by the Plaintiff to the Defendant.

4. The financial and operational impact of the Writ and Statement of Claim on the Group

The financial impact to the Company shall be limited to the amount awarded by the Court.

5. The expected losses, if any, arising from the Writ and Statement of Claim

Save and except for the Judgement sums and legal cost to be incurred by the Defendant, the litigation is not expected to have any financial and operational impact and will not affect the operation at the Group level.

6. Steps taken and proposed to be taken in respect of the Writ and Statement of Claim

The Defendant is seeking the necessary legal advice to resolve and/or defend against this matter.

Further announcement on the development of the above legal suit will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 13 May 2025.