General Announcement for PLC
10/07/2017ORDER UNDER SECTION 366 AND SECTION 368 OF THE COMPANIES ACT, 2016
| EKA NOODLES BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-07072017-00001 |
| Subject | ORDER UNDER SECTION 366 AND SECTION 368 OF THE COMPANIES ACT, 2016 |
| Description | ORDER UNDER SECTION 366 AND SECTION 368 OF THE COMPANIES ACT, 2016 |
| Query Letter Contents | We refer to your Company’s announcement dated 6 July 2017, in respect of the aforesaid matter. 1) The impact to the Group pursuant to the High Court of Malaya’s decision to set aside the Order dated 28 March 2017. 2) The relationship between Rasayang Food Industries Sdn Bhd and Dato’ Khor Wooi Chen with the Company. 3) Details of the claim on the Civil Suit filed by Metro Supplies Marketing Sdn Bhd (“MSM”). 4) Details of the event / circumstances leading to the filing of the Civil Suit by MSM. 5) The financial and operational impact of the Civil Suit on the Group. 6) The expected losses, if any arising from the Civil Suit. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully, Cc : Market Surveillance Dept. , Securities Commission (via fax) |
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Unless otherwise defined, the definitions set out in the announcement dated 6 July 2017 (“Announcement”) shall apply herein.
1. The impact to the Group pursuant to the High Court of Malaya’s decision to set aside the Order dated 28 March 2017. The Group is exposed to all proceedings or actions including any winding-up proceedings against the EKA Group by any party and/or the creditors.
2. The relationship between Rasayang Food Industries Sdn Bhd and Dato’ Khor Wooi Chen (“Dato’ Khor”) with the Company. Dato’ Khor is a guarantor as stated in the claim on the Civil Suit filed by MSM.
3. Details of the claim on the Civil Suit filed by Metro Supplies Marketing Sdn Bhd (“MSM”). MSM is claiming overdue rental from Rasayang and losses and damages in regards to the Property since Rasayang has ceased to operate and manage the Property. Henceforth MSM is claiming an injunction from the Court to stop the Rasayang from selling, transfer or manage the Property.
4. Details of the event / circumstances leading to the filing of the Civil Suit by MSM. MSM has bought a property known as Lot 50 and 51 , Pekan Semeling, Daerah Kuala Muda , Kedah (“Property”) from Mr Ong Khong Heng (“Original owner”), who previously has leased the Property to Rasayang to build a vermicelli factory. MSM then entered into a leasing agreement with Rasayang to lease the Property for a period of 10 years. Subsequently MSM has also entered Tri-party agreement between Dato’ Khor and the Original owner to govern their relationship for same Property. Among others, the terms for leasing agreement that the Property is in good condition. MSM claimed that the Property’s condition is not acceptable.
5. The financial and operational impact of the Civil Suit on the Group. The Board is in the view that there will be no financial and operational impact of the Civil Suit on the Group.
6. The expected losses, if any arising from the Civil Suit. The Board is in the view that there will be no expected losses arising from Civil Suit.
This announcement is dated 10 July 2017.
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Announcement Info
| Company Name | EKA NOODLES BERHAD |
| Stock Name | EKA |
| Date Announced | 10 Jul 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-10072017-00039 |