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Material Litigation

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Type Announcement
Subject MATERIAL LITIGATION
Description

HSS ENGINEERS BERHAD ("HEB" OR "COMPANY") Kuala Lumpur High Court Suit No. WA-23NCVC-26-06/2016 MRCB Engineering Sdn Bhd ("Plaintiff") vs Somnath Mukherjee and HSS Integrated Sdn Bhd (collectively, "Defendants") - Update

“Unless otherwise stated, the terms used in this announcement shall carry the same meaning as defined in the Company's announcements dated 18 July 2016, 26 August 2016, 15 September 2016 and 13 October 2016."

Further to the announcements made by the Company on 18 July 2016, 26 August 2016, 15 September 2016 and 13 October 2016, the Board of Directors of the Company (“Board”) wishes to announce that:

(a) the fifth case management was held on 25 October 2016;

(b) save for the Court scheduling the matter for trial from 22 May 2017 to 24 May 2017, there was no material development during the fifth case management; and

(c) the sixth case management has been fixed on 17 November 2016.

The solicitors acting for HSS Integrated Sdn Bhd ("HSSI") are of the opinion that HSSI has a good defence to the claim made by the Plaintiff. Nevertheless, in the event that HSSI is unsuccessful in its defence, the solicitors are of the opinion that the damages are unlikely to exceed RM300,000.00. 

The Board is of the view that this legal suit will not have any material impact on the Company's order book and future earnings. 

This announcement is dated 25 October 2016.

 


Announcement Info

Company Name HSS ENGINEERS BERHAD
Stock Name HSSEB
Date Announced 25 Oct 2016
Category General Announcement for PLC
Reference Number GA1-25102016-00046
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