The Board of Directors of Excel Force MSC Berhad ("the Company") wishes to announce that its 52% owned subsidiary company, Capital Market Risk Advisor Sdn. Bhd. has been served with a Writ of Summon and Statement of Claim issued by the Kuala Lumpur High Court Guaman No. 22IP-5-03/2015 by Risk-X Sdn. Bhd. ("RX") claiming to restrain the selling and distributing of their product ORMS V6 without permission.
Capital Market Risk Advisor Sdn. Bhd. is defending the claim and will file a counter-claim against RX.
Further development of the proceeding will be announced from time to time.
This announcement is dated 1 April 2015.