Reference is made to the Company’s earlier announcements dated 27 August 2020, 7 October 2020, 2 November 2020, 19 November 2020 , 26 November 2020 and 9 December 2020 in respect of the material litigation as described above (“Previous Announcements”).
For ease of reference, the terms and abbreviations used in the Previous Announcements shall be adopted herein, unless stated otherwise.
The Board of Directors of the Company wishes to announce that Axisjaya Sdn. Bhd. ("Axisjaya") and Seri Mutiara Development Sdn. Bhd.’s ("Seri Mutiara") appeal against the Kuala Lumpur High Court’s summary judgment order dated 19 November 2020 (“Order”) is fixed for Case Management before the Court of Appeal on 21 April 2021.
Further, the Conditional Stay of Execution of the Order granted by the Kuala Lumpur High Court on 8 December 2020 is discharged due to Axisjaya and Seri Mutiara’s non-compliance with the same.
In light thereof, the Order is no longer stayed and CJCT will explore the appropriate avenue to execute the Order.
The Company will make further announcement in respect of the material litigation as described above, as and when necessary.
This announcement is dated 29 March 2021.