MATERIAL LITIGATION - PESTECH INTERNATIONAL BERHAD (PESTECH or the Company)
In the High Court Malaya at Shah Alam Originating Summons No. BA-24NCC-133-10/2023 served on CRSE Sdn. Bhd., an indirect wholly-owned subsidiary of PESTECH by Universal Cable (M) Berhad (Joint and Several Interim Liquidators appointed)
PESTECH INTERNATIONAL BERHAD
Reference is made to the Company’s announcement dated 23 November 2023 and 8 December 2023 in relation to the demand made by CRSE Sdn. Bhd. (“CRSE”), an indirect wholly-owned subsidiary of PESTECH, on both the Performance Bond in the sum of RM9,500,013.78 and the Retention Bond in the sum of RM4,750,006.89 from Bangkok Bank Berhad (“BBB”) pursuant to a Sub-Supply Contract entered into between Pembinaan Tajri Sdn. Bhd. and Universal Cable (M) Berhad (“UC”) dated 15 May 2018.
The Company would like to update that the Court had on today rescheduled the Case Management of this matter to 13 May 2024, after the earlier case management scheduled on 5 March 2024 was vacated by the Court.
This announcement is dated 15 March 2024.
