Bursa Announcements
Date: 11 January 2018

MATERIAL LITIGATION IN THE SHAH ALAM HIGH COURT - LEGAL PROCEEDINGS INSTITUTED BY SWAN PROPERTY SDN BHD & 14 OTHERS VS. THE SUMMIT SUBANG USJ MANAGEMENT CORPORATION AND MAYBANK TRUSTEES BERHAD (AS TRUSTEE FOR AmFIRST REAL ESTATE INVESTMENT TRUST) (WRIT OF SUMMONS NO: BA-22NCvC-718-12/2017)


Type Announcement
Subject MATERIAL LITIGATION
Description IN THE SHAH ALAM HIGH COURT - LEGAL PROCEEDINGS INSTITUTED BY SWAN PROPERTY SDN BHD & 14 OTHERS VS. THE SUMMIT SUBANG USJ MANAGEMENT CORPORATION AND MAYBANK TRUSTEES BERHAD (AS TRUSTEE FOR AmFIRST REAL ESTATE INVESTMENT TRUST) (WRIT OF SUMMONS NO: BA-22NCvC-718-12/2017)

We wish to announce that Maybank Trustees Berhad, the trustee of AmFIRST REIT ("AmFIRST REIT Trustee") was on 15 December 2017, served with a Writ of Summons and Statement of Claim dated 13 December 2017 filed by Swan Property Sdn Bhd and 14 others ("Plaintiffs") who named The Summit Subang USJ Management Corporation ("MC") as the 1st Defendant and AmFIRST REIT Trustee as the 2nd Defendant.

The Plaintiffs have alleged that (i) the MC has breached certain statutory and fiduciary duties; and (ii) the MC and AmFIRST REIT Trustee have conspired to injure the Plaintiffs.

AmFIRST REIT Trustee is disputing the allegations against AmFIRST REIT Trustee and has appointed solicitors to defend the suit.  The case management is fixed on 18 January 2018 at 9.00 a.m. at the Shah Alam High Court.

We will make further announcement(s) as and when is necessary on future development(s) in this matter.

This announcement is dated 11 January 2018.





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