The Board of Directors of Tamadam wishes to announce that following Tamadam’s announcement on 7 August 2009 whereby Tamadam has claimed against Sanyo for RM546,478.67, Tamadam wishes to announce that:
1. Sanyo has served its Defence and Counterclaim dated 23 September 2009 (“the Counterclaim”) on Tamadam on even date.
2. The Counterclaim against Tamadam is for alleged cost of stock damaged/losses and other charges amounting to RM354,432.72. Tamadam is advised by its solicitors that it has a good defence against the Counterclaim.
3. The Counterclaim is not expected to have any significant financial or operational impact on the Tamadam Group.
This announcement is dated 23 September 2009.