News

Material Litigation

BackMar 14, 2024

 

Type Announcement
Subject MATERIAL LITIGATION
Description AWANBIRU TECHNOLOGY BERHAD ("AWANTEC" OR "THE COMPANY") - UPDATES ON LEGAL PROCEEDINGS BY PRESTARIANG SKIN SDN. BHD. ("PSKIN" OR "PLAINTIFF") AGAINST THE GOVERNMENT OF MALAYSIA ("GOM" OR "DEFENDANT")
We refer to our announcement dated 15 April 2019 and series of subsequent announcements thereafter in relation to the legal proceedings by PSKIN against the GOM.

The Company wishes to announce that the Kuala Lumpur High Court Judge, Justice Dato’ Sri Latifah binti Haji Mohd Tahar (“Judge”), delivered the decision of the Originating Summons filed by the Company’s subsidiary, PSKIN, on 22 April 2019 against the GOM today. PSKIN was represented by Messrs. Lim Chee Wee Partnership.

The Judge awarded PSKIN a sum of RM231,549,002.90 (“Judgment Sum”), post-judgment interest of 5% per annum of the Judgment Sum calculated from the date of judgment to the date of full satisfaction of the Judgment Sum and cost of RM80,000.00 to be paid by the GOM, subject to allocatur fees ("Decision”).

This announcement is dated 14 March 2024.

 

Announcement Info

Company Name AWANBIRU TECHNOLOGY BERHAD
Stock Name AWANTEC
Date Announced 14 Mar 2024
Category General Announcement for PLC
Reference Number GA1-14032024-00024