MATERIAL LITIGATION CENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" OR "COMPANY") - CLAIM MADE BY SCA HYGIENE MALAYSIA SDN. BHD. AGAINST CENTURY TOTAL LOGISTICS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY
| CENTURY LOGISTICS HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | CENTURY LOGISTICS HOLDINGS BERHAD ("CENTURY" OR "COMPANY")
- CLAIM MADE BY SCA HYGIENE MALAYSIA SDN. BHD. AGAINST CENTURY TOTAL LOGISTICS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY |
|
Reference is made to our announcements dated 26 February 2014, 21 March 2014, 20 June 2014, 17 July 2014, 31 July 2014, 15 August 2014, 24 September 2014, 20 November 2014, 10 December 2014, 5 February 2015 and 30 March 2015. The Company is pleased to announce that it has achieved an amicable settlement of the suit brought by SCA Hygiene Malaysia Sdn Bhd (“SCA”) against Century Total Logistics Sdn Bhd (“CTL”) vide Kuala Lumpur High Court Suit No. 22NCVC-73-02/2014. Pursuant to the settlement, CTL paid a sum of RM1.65 million to SCA, with no admission of liability on the part of CTL. As a result of the amicable settlement, SCA has no liberty to file afresh any similar claims against CTL and no costs were awarded to either party. The amicable settlement allows the Century Group to remain fully focused on the continued growth of its business. This annoucement is dated 21 May 2015. |
|
Announcement Info
| Company Name | CENTURY LOGISTICS HOLDINGS BERHAD |
| Stock Name | CENTURY |
| Date Announced | 21 May 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21052015-00050 |
