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Material Litigation

BackMar 08, 2018
Type Announcement

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 14 February 2018.

Further to the hearing and case management on 8 March 2018 (the date on 5 March 2018 having been adjourned to this date), the Company wishes to announce the following:-

1. Euroland & Development Sdn Bhd's ("Euroland")’s High Court of Malaya in Kuala Lumpur Originating Summons No. WA-24C-5-01/2018 seeking, amongst others:- (i) a declaration that the material disputes between the Euroland and Tack Yap Construction (M) Sdn Bhd (“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 its KLRCA Adjudication No. ADJ-1376-2017 against Euroland; was dismissed by the High Court today with costs of RM10,000.00 to be paid by Euroland to Tack Yap. The High Court further directed that Euroland’s adjudication response in the said KLRCA Adjudication No. ADJ-1376-2017 is to be filed on or before 16 March 2018; and

2. The High Court of Malaya in Kuala Lumpur Suit No. WA22C-50-04/201 filed by Tack Yap against Euroland is fixed for case management on 30 March 2018.

Further announcements to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

This announcement is dated 8 March 2018.

Announcement Info

Stock Name EURO
Date Announced 08 Mar 2018
Category General Announcement for PLC
Reference Number GA1-08032018-00085

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