General Announcement for PLC

07/02/2022

MATERIAL LITIGATION IMPIANA HOTELS BERHAD ("IMPIANA" OR "THE COMPANY") ADJUDICATION REFERENCE NO. AIAC/D/ADJ-3915-2021 BETWEEN AXVENTURE SDN BHD ("CLAIMANT") AND IMPIANA CHERATING SDN BHD ("RESPONDENT")

IMPIANA HOTELS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
IMPIANA HOTELS BERHAD ("IMPIANA" OR "THE COMPANY")
ADJUDICATION REFERENCE NO. AIAC/D/ADJ-3915-2021 BETWEEN AXVENTURE SDN BHD ("CLAIMANT") AND IMPIANA CHERATING SDN BHD ("RESPONDENT")

We refer to the Company's announcement made on 6 January 2022 in respect of the Adjudication Claim filed by Axventure Sdn Bhd (“Claimant”) against the Company’s wholly owned subsidiary, Impiana Cherating Sdn Bhd (“Respondent”).


The Adjudicator had on 7 February 2022 made his decision that the Claimant has succeeded in its claim and had ordered the Respondent to pay the Claimant the outstanding sum of RM1,947,373.18 together with the legal cost, other incidental costs and total costs of the adjudication proceeding (“Adjudicated Sum”); and for the Adjudicated Sum to be paid by the due date, on or before 21 February 2022.


The Respondent had earlier proposed a settlement payment plan to the Claimant and will be following up with the Claimant’s counsel on the proposed plan.


The Company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.


This announcement is dated 7 February 2022.



Announcement Info

Company Name IMPIANA HOTELS BERHAD
Stock Name IMPIANA
Date Announced 07 Feb 2022
Category General Announcement for PLC
Reference Number GA1-07022022-00059


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