| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | BRAHIM HOLDINGS BERHAD (“BHB” or “Company”)
– Material litigation between Hock Seng Lee Berhad and Admuda Sdn. Bhd., a 60% owned subsidiary of BHB |
| The Board of Directors of BHB wishes to announce that Admuda Sdn. Bhd. (“Admuda”), a 60% owned subsidiary of the Company on 10 June 2016 received a Writ and Statement of Claim which was filed on 30 May 2016 at the High Court of Sabah and Sarawak at Kuching by Hock Seng Lee Berhad (“Company No. 045556-X) (“Plaintiff”) to claim against Admuda the sum of RM6,939,196.75 together with interest thereon as the Court deems fit from 24 June 2014 until full and final settlement as alleged damages.
The Plaintiff’s claim is arising from the non-payment by Admuda of the first progress claim for the works done by the Plaintiff in relation to the design and build a sugar refinery factory with production capacity of 500 tones per day. Admuda has taken steps to engage lawyer on the matter and will announce further developments on the above matter in due course. The Board of Directors is of the view that the Writ and Statement of Claim is not expected to have any significant financial and operational impact on BHB Group for the financial year ending 31 December 2016. The announcement is dated 15 June 2016. |
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