MATERIAL LITIGATION SHAH ALAM HIGH COURT COMPANIES WINDING UP NO. BA-28NCC-250-06/2016 MEWAH INDAH RESOURCES (M) SDN BHD (PETITIONER) v. KONTENA NASIONAL BERHAD (KNB)

MMC CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
SHAH ALAM HIGH COURT COMPANIES WINDING UP NO. BA-28NCC-250-06/2016 
MEWAH INDAH RESOURCES (M) SDN BHD (PETITIONER) v. KONTENA NASIONAL BERHAD (KNB)

We refer to our announcements of 7 and 10 June 2016 with respect to the above matter.

 

MMC Corporation Berhad (“MMC”) wishes to announce that the judgment in default dated 7 November 2014 for the sum of RM5,410,000.00 obtained by the Petitioner against KNB (“Judgment”) has been set aside by the Shah Alam High Court on 15 July 2016. The Winding Up Petition is premised on this Judgment.

 

In view of the Judgment being set aside, KNB’s solicitors have given notice to the Petitioner's solicitors to withdraw the Winding Up Petition.

 

The decision of the Shah Alam High Court to set aside the Judgment is not expected to have any material impact on the earnings of MMC Group.

 

MMC will make further announcements if there are any material developments in respect of the Winding Up Petition.

 

This announcement is dated 19 July 2016.






Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 19 Jul 2016
Category General Announcement for PLC
Reference Number GA1-18072016-00047