Euro Holdings Berhad ("EURO" or the "Company") 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)
Reference is made to the Company’s announcement dated 5 September 2018.
Further to the Seal Judgement dated on 3 October 2018 which was received by the Company on 17 October 2018, the Company wishes to announce the following:
(a) the Plaintiff’s claim against the Defendant pursuant to the Plaintiff’s amended Statement of Claim for the sum of RM9,497,501.92 is allowed.
(b) the Defendant’s counterclaim against the Plaintiff pursuant to the Defendant’s Amended Defence and Counterclaim for a sum of RM642,600.00 for defective works is allowed.
(c) the Defendant shall pay to the Plaintiff a sum of RM8,854,901.92 together with interest thereon at the rate of 5% per annum from the date of the Statement of Claim until of full settlement.
(d) the Defendant shall pay to the Plaintiff a sum of RM5,000.00 as loss of profit and costs of RM80,000.00.
The Company is seeking legal advice on the above mentioned matter.
This announcement is dated 18 October 2018.
|Company Name||EURO HOLDINGS BERHAD|
|Date Announced||18 Oct 2018|
|Category||General Announcement for PLC|