Euro Holdings Berhad ("EURO" or the "Company") (1) Kuala Lumpur High Court Civil Suit No: WA-22C-50-04/2017 Tack Yap Construction (M) Sdn Bhd (the Plaintiff) v Euroland & Development Sdn Bhd (the Defendant) (2) High Court of Malaya at Kuala Lumpur Originating Summons No. WA-24C-5-01/2018 Euroland & Development Sdn Bhd v Tack Yap Construction (M) Sdn Bhd
Reference is made to the Company’s announcement dated 29 December 2017.
1. On 16 November 2017, Tack Yap Construction (M) Sdn Bhd (“Tack Yap”) initiated adjudication proceedings against the Defendant in respect of the sum of RM6,512,443.05, this being one part of the present dispute between Tack Yap and the Defendant in the High Court of Malaya in Kuala Lumpur Suit No. WA22C-50-04/2017 (“Tack Yap Suit”). These adjudication proceedings have since been registered as KLRCA Adjudication No. ADJ-1376-2017.
2. On 4 January 2018, the Defendant filed the High Court of Malaya in Kuala Lumpur Originating Summons No. WA-24C-5-01/2018 (“Euroland OS”) seeking, amongst others:- (i) a declaration that the material disputes between the Defendant and Tack Yap do not fall within the ambit and jurisdiction of the Construction Industry Payment and Adjudication Act 2012; and (ii) that Tack Yap be restrained from pursuing and proceeding with the aforesaid adjudication proceedings.
The Tack Yap Suit and the Euroland OS were called up for case management yesterday morning. Following this, the Company wishes to announce the following:-
a) the Euroland OS is fixed for case management on 19 January 2018;
b) the Tack Yap Suit is fixed for:-
i. case management on 19 January 2018; and
ii. trial on 16, 17, 18, 25 and 26 July 2018.
Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.
This announcement is dated 11 January 2018.
|Company Name||EURO HOLDINGS BERHAD|
|Date Announced||11 Jan 2018|
|Category||General Announcement for PLC|