News

Material Litigation

BackMay 14, 2025

 

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 the series of subsequent announcements thereafter in relation to the legal proceedings by PSKIN against the GOM.

Following the recording of a Consent Order on 24 March 2025 in the Court of Appeal of Malaysia at Putrajaya (“Consent Order”), the Company is pleased to announce that PSKIN has today received the full and final payment of RM201,447,632.52 (“Settlement Sum”) from the GOM pursuant to the Consent Order.

The receipt of the Settlement Sum marks the conclusion of the legal proceedings in relation to this matter, enabling the Company to move forward with full focus on driving future growth and continuing to deliver value to our stakeholders.

This announcement is dated 14 May 2025.

 

Announcement Info

Company Name AWANBIRU TECHNOLOGY BERHAD
Stock Name AWANTEC
Date Announced 14 May 2025
Category General Announcement for PLC
Reference Number GA1-14052025-00030