Bursa Announcements
News
Material Litigation
Aug 26, 2016
Type
Announcement
Subject
MATERIAL LITIGATION
Description
ARBITRATION PROCEEDINGS BY MMCEG-GAMUDA JOINT VENTURE AGAINST WAYSS & FREYTAG (MALAYSIA) SDN BHD
We refer to our announcements on 17 December 2008, 19 January 2009, 16 April 2013, 18 April 2013, 27 May 2013, 9 June 2014 and 16 December 2014 in respect of the above matter.
Gamuda Berhad (“Gamuda” or the “Company”) wishes to announce that the Court of Appeal has today dismissed the appeal filed by the Company, a party to the MMCEG-Gamuda Joint Venture (“JV”).
Gamuda, which has a 50% interest in the JV, intends to file an application to the Federal Court to seek leave to appeal against the decision of the Court of Appeal.
The decision of the Court of Appeal is not expected to have any material impact on the earnings of the Gamuda Group for the financial year ending 31 July 2017. All related costs had been expensed off in prior years.
Gamuda will make the necessary announcement to Bursa Securities as and when there is a material development on the matter.
This announcement is dated 26 August 2016.
Announcement Info
Company Name
GAMUDA BERHAD
Stock Name
GAMUDA
Date Announced
26 Aug 2016
Category
General Announcement for PLC
Reference Number
GA1-26082016-00043
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description |
ARBITRATION PROCEEDINGS BY MMCEG-GAMUDA JOINT VENTURE AGAINST WAYSS & FREYTAG (MALAYSIA) SDN BHD |
|
We refer to our announcements on 17 December 2008, 19 January 2009, 16 April 2013, 18 April 2013, 27 May 2013, 9 June 2014 and 16 December 2014 in respect of the above matter. Gamuda Berhad (“Gamuda” or the “Company”) wishes to announce that the Court of Appeal has today dismissed the appeal filed by the Company, a party to the MMCEG-Gamuda Joint Venture (“JV”). Gamuda, which has a 50% interest in the JV, intends to file an application to the Federal Court to seek leave to appeal against the decision of the Court of Appeal. The decision of the Court of Appeal is not expected to have any material impact on the earnings of the Gamuda Group for the financial year ending 31 July 2017. All related costs had been expensed off in prior years. Gamuda will make the necessary announcement to Bursa Securities as and when there is a material development on the matter. This announcement is dated 26 August 2016. |
|
Announcement Info
| Company Name | GAMUDA BERHAD |
| Stock Name | GAMUDA |
| Date Announced | 26 Aug 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26082016-00043 |