Bursa Announcements
Date : 03 April 2024

MATERIAL LITIGATION MATERIAL LITIGATION IN THE KUALA LUMPUR HIGH COURT LEGAL PROCEEDINGS INSTITUTED BY LOOI SEOW LENG VS. THE SUMMIT SUBANG USJ MANAGEMENT CORPORATION (MC) AND MAYBANK TRUSTEES BERHAD (MTB) (AS TRUSTEE FOR AMFIRST REAL ESTATE INVESTMENT TRUST) (WRIT OF SUMMONS NO.: WA-22NCVC-217-03/2024)

AMFIRST REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION IN THE KUALA LUMPUR HIGH COURT  LEGAL PROCEEDINGS INSTITUTED BY LOOI SEOW LENG VS. THE SUMMIT SUBANG USJ MANAGEMENT CORPORATION (MC) AND MAYBANK TRUSTEES BERHAD (MTB) (AS TRUSTEE FOR AMFIRST REAL ESTATE INVESTMENT TRUST) (WRIT OF SUMMONS NO.: WA-22NCVC-217-03/2024)

Further to our earlier quarterly announcement on 21 February 2024 under updates on material litigation with regard to the Writ of Summons No. WA-22NCC-82/2018 (“Suit 82”), on 11 January 2024, Looi Seow Leng (“Looi”), the 2nd Plaintiff in Suit 82 entered into a consent order with The Summit Subang USJ Management Corporation (MC), the 1st Defendant and Maybank Trustees Berhad (MTB), the 2nd Defendant respectively and discontinued the Civil Suit against the MC and MTB with liberty to file afresh. The MC and MTB were also given liberty to file fresh defences vide the consent order. The 1st, 3rd to 15th Plaintiffs in Suit 82 did not pursue their claims against the MC and MTB.

 

Subsequently on 31 March 2024, Looi filed afresh the Statement of Claim and Writ of Summon vide Civil Suit WA-22NCVC-217-03/2024 (Suit 217) against the MC and MTB and amongst other pleadings pleaded that the MC and MTB conspired to injure her by breaching the Strata Titles Act, 1985 and the Strata Management Act, 2013 (SMA) and seeks inter alia the following reliefs: 

 

1. A declaration that the refurbishment of the Summit carried out by the MC under the resolutions passed at the 15 December 2012 and 15 March 2014 Annual General Meetings (AGM) are ultra vires the Strata Titles Act, 1985

 

2. A declaration that Looi is not liable to pay the refurbishment costs, late payment interest and legal costs in the sum of RM 270,421.37 as at 22 September 2023 to the MC.

 

3. A declaration that the MC has breached its fiduciary duties to the proprietors.

 

4. A declaration that MTB is liable to contribute to the maintenance and sinking fund charges (charges) from the date MTB was registered as a proprietor of the basement car park, hotel block and their parcels at the office block.

 

5. An Order that the MC demands and claims all outstanding charges from MTB, costs, general and exemplary damages, interest and the resolutions passed at the 5th, 6th, 7th and 8th AGMs and 4 August 2018 EGM be declared null and void.

 

6. A declaration that the MC recalculates the charges in proportion with the share units assigned to each parcel past and future periods, charges the same recalculated rates on MTB and to collect the said recalculated charges from MTB within 14 days from the date of the Order of Court.

 

7. An order that the MC distributes and credits the alleged over charged sum back to the proprietors and costs.

 

The Court has fixed for the case management to be held on 30 April 2024.

 

We have consulted our solicitors who hold the view that there is a credible defence for MTB. We have accordingly instructed our solicitors to defend the interests of MTB against Looi’s claims.

 

We will make further announcement as and when deemed appropriate if there are any further developments on this matter.

 

This announcement is dated 3 April 2024.






Announcement Info

Company Name AMFIRST REAL ESTATE INVESTMENT TRUST
Stock Name AMFIRST
Date Announced 03 Apr 2024
Category General Announcement for PLC
Reference Number GA1-03042024-00063


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