Bursa Announcements

Date : 30 April 2018

OTHERS AEON CO. (M) BHD. ("AEON" OR "COMPANY") - Kuala Lumpur High Court Civil Suit against Gemilang Waras Sdn. Bhd.

AEON CO. (M) BHD

Type Announcement
Subject OTHERS
Description
AEON CO. (M) BHD. ("AEON" OR "COMPANY") 
- Kuala Lumpur High Court Civil Suit against Gemilang Waras Sdn. Bhd.

Reference are made to the Company’s announcements on 9th November 2017 and 7th December 2017 pertaining to a suit against Gemilang Waras Sdn. Bhd. (496922-H) (“the Defendant”) in the High Court of Malaya in Kuala Lumpur on the renewal of lease for AEON Mall Bukit Tinggi.

The Board of Directors of the Company wishes to inform that the Court has delivered its judgment on 27th April 2018 (“the Decision”) in favour of the Defendant. The Court dismissed the Company’s Originating Summons as follows:-

  1. The lease was not renewed and it has expired on 23rd November 2017;
  2. The Company has to vacate the premises;
  3. No double rental was granted but damages payable by the Company to the Defendant are to be assessed; and
  4. The Company is required to pay RM10,000.00 as costs to the Defendant.

The Company intends to appeal against the Decision and has orally applied for a stay pending the disposal of the appeal. An interim stay was granted by the Court pending the filing and hearing of a formal application for stay.

At this juncture, the Board is unable to ascertain the financial impact to the Company pending the outcome of the appeal.

If there is any development in this matter, further announcement will be made accordingly where necessary.

This announcement is dated 30th April 2018.






Announcement Info

Company Name AEON CO. (M) BHD
Stock Name AEON
Date Announced 30 Apr 2018
Category General Announcement for PLC
Reference Number GA1-30042018-00089


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