The Board of Directors of Atrium REIT Managers Sdn Bhd, the Manager of Atrium REIT (“the Manager”), wishes to announce that Pacific Trustees Berhad, the Trustee of Atrium REIT (“Trustee”) was served with a Writ of Summons and Statement of Claim on 23 June 2021, and the Judgement on 14 July 2021 by Marelli Asia Pacific Sdn Bhd, a former tenant of Atrium REIT (“Plaintiff”) through its Solicitors, Messrs Lum Kok Kiong & Co. (“Plaintiff’s Claim”).

The Plaintiff’s Claim is in respect of a dispute on the refund of deposits by Atrium REIT to the Plaintiff upon expiration of the lease agreement between the parties.

Pursuant to the Judgement dated 7 July 2021, Atrium REIT is liable to pay the Plaintiff the following:-

1. The sum of RM562,493.46;
2. The interest at the rate of 8% per annum on the sum of RM562,493.46, calculated on a daily basis from 15 June 2021 until the date of full settlement; and
3. The costs of RM1,276.00 together with interest thereon at the rate of 5% per annum from the date of judgement until the date of full settlement.

The Trustee has engaged a legal counsel on the recommendation of the Manager and will take the necessary legal action to defend Atrium REIT’s position. The Manager is of the view that the claim is not expected to have a material financial or operational impact on Atrium REIT for the financial year ending 31 December 2021.

Further announcements will be made as and when there is material development on the case.

This announcement is dated 23 July 2021.