Reference is made to the announcements on 30 March 2010, 31 March 2010 and 17 January 2013.
Timbang Makmur Sdn Bhd ("the Defendant"), an indirect wholly-owned subsidiary of the Company, filed an Application on 22 March 2013 to amend the Statement of Defence and the Application was allowed on 22 April 2013. The Government of Malaysia ("the Plaintiff") then filed their reply to the amended defence on 10 May 2013. Further, the Plaintiff filed a Summary Judgement and on 7 November 2013, the High Court dismissed the Summary Judgement Application with costs. The Plaintiff then filed an Appeal to the Court of Appeal and it was also dismissed with costs on 27 May 2014. The matter was then reverted back to the High Court for full trial.
The Board of Directors of CHHB wishes to announce that the trial for this matter has concluded and the decision was pronounced on 18 February 2015 whereby the Judge allowed the Plaintiff's claim of RM1,812,217.00 with interest of 5% to be calculated from the date of judgement (18 February 2015) till realisation with costs. The Defendant will be filling an Appeal to the Court of Appeal against the decision and will be applying for a Stay of the execution.
This announcement is dated 23 February 2015.