General Announcement for PLC

10/05/2022

MATERIAL LITIGATION - WRIT AND STATEMENT OF CLAIM BY BETANAZ PROPERTIES SDN BHD ("BETANAZ"), A 51%-OWNED SUBSIDIARY OF AHMAD ZAKI RESOURCES BERHAD ("AZRB"), AGAINST AEON CO. (M) BHD ("AEON") - COUNTERCLAIM BY AEON AGAINST BETANAZ AND AZRB

AHMAD ZAKI RESOURCES BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
- WRIT AND STATEMENT OF CLAIM BY BETANAZ PROPERTIES SDN BHD ("BETANAZ"), A 51%-OWNED SUBSIDIARY OF AHMAD ZAKI RESOURCES BERHAD ("AZRB"), AGAINST AEON CO. (M) BHD ("AEON")
- COUNTERCLAIM BY AEON AGAINST BETANAZ AND AZRB

We refer to our announcements made on 4 March 2021, 31 March 2021 and 25 October 2021 in relation to the Writ and Statement of Claim filed by Betanaz against AEON pertaining to AEON’s fundamental and repudiatory breach of a Tenancy Agreement dated 24 August 2017 and the Counterclaim by AEON against Betanaz and AZRB seeking a refund of the monies paid by AEON to Betanaz and AZRB.

 

The Court of Appeal had on 9 May 2022 allowed AEON’s appeal with costs of RM15,000. As such, the High Court Order dated 22 October 2021 in striking out AEON’s claim against AZRB was set aside and the matter will be remitted to the High Court for case management.

 

 

This announcement is dated 10 May 2022.  



Announcement Info

Company Name AHMAD ZAKI RESOURCES BERHAD
Stock Name AZRB
Date Announced 10 May 2022
Category General Announcement for PLC
Reference Number GA1-10052022-00040


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Date Title
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31/03/2021 MATERIAL LITIGATION - WRIT AND STATEMENT OF CLAIM BY BETANAZ PROPERTIES SDN BHD ("BETANAZ"), A 51%-OWNED SUBSIDIARY OF AHMAD ZAKI RESOURCES BERHAD ("AZRB"), AGAINST AEON CO. (M) BHD ("AEON") - COUNTERCLAIM BY AEON AGAINST BETANAZ AND AZRB
15/03/2021 DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS OUTSIDE CLOSED PERIOD