Bursa Announcements News

Reference is made to the announcements made by Gamuda Berhad (Company No. 29579-T) (“Gamuda” or “Company”) on 27 June 2016 and 29 June 2016 in respect of the aforesaid Suit.
Gamuda wishes to announce that the Kuala Lumpur High Court (“High Court”) has allowed the application by Gamuda’s jointly controlled entity, KVMRT PDP and ordered that Accolade’s Writ and Statement of Claim be struck out with costs.
The High Court found that Accolade’s legal suit was totally unsustainable on, among others, the following premises:-
(a)    the alleged oral agreement was not supported by any contemporaneous evidence;
(b)    even if there was indeed a contract, Accolade has no cause of action as there is no possible inducement for breach of contract.
The High Court has also allowed the applications to strike out Accolade’s Writ and Statement of Claim filed by the other defendants in the Suit. 
In view of the High Court’s decision thereof, the 2nd striking out applications filed by KVMRT PDP and MRT Corp have become academic and accordingly, struck out.
This announcement is dated 21 April 2017.