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, 8 December 2023, 15 March 2024 and 11 June 2024 in relation to the demand made by CRSE Sdn. Bhd., 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 pursuant to a Sub-Supply Contract entered into between Pembinaan Tajri Sdn. Bhd. and Universal Cable (M) Berhad dated 15 May 2018.
The Company would like to update that during the case management held before the new Judge in the Construction Court of the Shah Alam High Court on 9 July 2024, the learned High Court Judge has now scheduled the hearing of the Performance Bond and Retention Bond injunction (inter-partes) on 18 July 2024.
This announcement is dated 9 July 2024.
