1. This announcement is to provide an update to Item 21-Material Litigation as contained in the Company’s Quarterly report on consolidated results for the financial period ended 30 June 2023 duly announced on 25 August 2023 (Reference Number: FRA-25082023-00029) (“QR-0623 Announcement”).
2. Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in Item 21-Material Litigation of the QR-0623 Announcement.
On 30 August 2023, the High Court Judge allowed the Plaintiff’s claim against the Defendant and made the following orders:
i. The Defendant is to pay the 1st Plaintiff, ie. Apex Marble Sdn. Bhd. the following sums:
a. RM946,496.39.
b. RM3,303,671.
c. Interest on the sums in (a) and (b) above at the rate of 5% per annum from the date of judgment to the date of full realisation.
ii. The Defendant is to pay the 2nd Plaintiff, ie. Mcore Sdn. Bhd. the following sums:
a. RM2,249,751.08.
b. RM14,871,167.03.
c. Interest on the sums in (a) and (b) above at the rate of 5% per annum from the date of judgment to the date of full realisation.
iii. The Defendant is to pay the Plaintiffs costs of RM100,000.
iv. The Defendant’s counterclaim is dismissed.
This announcement is dated 01 September 2023.