General Announcement for PLC
18/04/2019MATERIAL LITIGATION Cabnet Holdings Berhad (Cabnet or the Company) (1)Shah Alam High Court (Construction Court) Suit No. BA-24C-5-01/2019 between Cabnet Systems (M) Sdn Bhd (Cabnet Systems)(Plaintiff),Dekad Kaliber Sdn Bhd (Dekad Kaliber)(1st Defendant) and Rimarisan Sdn Bhd (Rimarisan)(2nd Defendant)(Construction Court Suit); and (2)Shah Alam High Court (Civil Division) Suit No. BA-22NCvC-28-01/2019 between Cabnet Systems (Plaintiff), Dekad Kaliber (1st Defendant) and Rimarisan (2nd Defendant)(Civil Suit)
CABNET HOLDINGS BERHAD |
Type | Announcement |
Subject | MATERIAL LITIGATION |
Description | Cabnet Holdings Berhad (Cabnet or the Company) (1)Shah Alam High Court (Construction Court) Suit No. BA-24C-5-01/2019 between Cabnet Systems (M) Sdn Bhd (Cabnet Systems)(Plaintiff),Dekad Kaliber Sdn Bhd (Dekad Kaliber)(1st Defendant) and Rimarisan Sdn Bhd (Rimarisan)(2nd Defendant)(Construction Court Suit); and (2)Shah Alam High Court (Civil Division) Suit No. BA-22NCvC-28-01/2019 between Cabnet Systems (Plaintiff), Dekad Kaliber (1st Defendant) and Rimarisan (2nd Defendant)(Civil Suit) |
We refer to the announcements issued on 25 February 2019, 6 March 2019 and 9 April 2019 in relation to the abovesaid Construction Court Suit and Civil Suit (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meanings stated in the Announcements. The Company wishes to announce the following updates based on the case management conducted on 17 April 2019.
Construction Court Suit
By way of Originating Summons dated 17 January 2019, the Plaintiff had initiated an action under Section 30 of the Construction Industry Payment and Adjudication Act 2012 (CIPAA 2012) against 1st Defendant (i.e. Dekad Kaliber) and 2nd Defendant (i.e. Rimarisan) to obtain full payment of the adjudication sum of RM 1,155,874.10.
Prior to this action, the Plaintiff had pursued adjudication proceedings against Synergycentric Sdn Bhd (“Synergycentric”) and obtained adjudication decision on 1 November 2018 which was in favour of the Plaintiff. However, Synergycentric has gone into liquidation and has not made any settlement to the adjudication sum. As such, the Plaintiff pursues an action against the principals of Synergycentric, i.e. 1st and 2nd Defendants under Section 30 of the CIPAA 2012.
The case managements were held on 5 March 2019, 29 March 2019, 4 April 2019 and 17 April 2019.
Civil Court Suit
By way of a Civil Suit on 17 January 2019, the Plaintiff had filed an action for breach of contract pursuant to the Sale and Purchase Agreement dated 18 July 2017 (SPA) between the Plaintiff and Synergycentric Sdn. Bhd. for a sum amounting to RM 1,156,048.18, being the outstanding invoices under the SPA.
Further material developments to the abovementioned Construction Court Suit and the Civil Suit will be announced in due course.
This announcement is dated 18 April 2019. |
Announcement Info
Company Name | CABNET HOLDINGS BERHAD |
Stock Name | CABNET |
Date Announced | 18 Apr 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-18042019-00081 |