Bursa Announcements
News
Material Litigation
Jun 27, 2016
Type
Announcement
Subject
MATERIAL LITIGATION
Description
KUALA LUMPUR HIGH COURT SUIT NO. WA-21C-3-05 OF 2016
ACCOLADE LAND SDN BHD VS MASS RAPID TRANSIT CORPORATION SDN BHD & MMC GAMUDA KVMRT (PDP) SDN BHD & OTHERS
Gamuda Berhad ("Gamuda") wishes to announce that its jointly controlled entity, MMC Gamuda KVMRT (PDP) Sdn Bhd (“KVMRT PDP”) has, on 24 June 2016, been served with a writ and statement of claim filed by Accolade Land Sdn Bhd (“Accolade”) against Mass Rapid Transit Corporation Sdn Bhd (“MRT Corp”), KVMRT PDP and other parties.
The suit is premised on an alleged breach of an alleged contract between Accolade and MRT Corp relating to the acquisition of land belonging to Accolade by MRT Corp for the Klang Valley Mass Rapid Transit project.
Accolade is claiming, jointly and severally against the defendants, damages in the sum of RM303,534,216.00, with interest and costs.
KVMRT (PDP) will take steps to defend itself and oppose the legal suit.
The legal suit will not have any significant financial and operational impact on the Gamuda Group for the financial year ending 31 July 2016.
None of the directors or major shareholders of Gamuda or persons connected with them has any interest, direct or indirect in the aforesaid legal suit.
This announcement is dated 27 June 2016.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
27 Jun 2016
Category
General Announcement for PLC
Reference Number
GA1-27062016-00075
Type
| Announcement | |
| Subject | MATERIAL LITIGATION |
| Description |
KUALA LUMPUR HIGH COURT SUIT NO. WA-21C-3-05 OF 2016 ACCOLADE LAND SDN BHD VS MASS RAPID TRANSIT CORPORATION SDN BHD & MMC GAMUDA KVMRT (PDP) SDN BHD & OTHERS |
|
Gamuda Berhad ("Gamuda") wishes to announce that its jointly controlled entity, MMC Gamuda KVMRT (PDP) Sdn Bhd (“KVMRT PDP”) has, on 24 June 2016, been served with a writ and statement of claim filed by Accolade Land Sdn Bhd (“Accolade”) against Mass Rapid Transit Corporation Sdn Bhd (“MRT Corp”), KVMRT PDP and other parties. The suit is premised on an alleged breach of an alleged contract between Accolade and MRT Corp relating to the acquisition of land belonging to Accolade by MRT Corp for the Klang Valley Mass Rapid Transit project. Accolade is claiming, jointly and severally against the defendants, damages in the sum of RM303,534,216.00, with interest and costs. KVMRT (PDP) will take steps to defend itself and oppose the legal suit. The legal suit will not have any significant financial and operational impact on the Gamuda Group for the financial year ending 31 July 2016. None of the directors or major shareholders of Gamuda or persons connected with them has any interest, direct or indirect in the aforesaid legal suit. This announcement is dated 27 June 2016. |
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Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 27 Jun 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27062016-00075 |