Bursa Announcements
Date: 06 March 2018

MATERIAL LITIGATION IN THE HIGH COURT OF MALAYA AT KUALA LUMPUR - 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: WA-22NCC-82-02/2018)


Type Announcement
Subject MATERIAL LITIGATION
Description IN THE HIGH COURT OF MALAYA AT KUALA LUMPUR - 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: WA-22NCC-82-02/2018)

Further to our announcement of 22 February 2018 with regard to the withdrawal of the Writ of Summons No: BA-22NCvC-718-12/2017 ("Previous Suit"), we wish to announce that on 6 March 2018, the plaintiffs of the Previous Suit namely Swan Property Sdn Bhd and 14 others ("Plaintiffs") had via their solicitors served a Writ of Summons and Statement of Claim filed on 28 February 2018 on Maybank Trustees Berhad, the trustee of AmFIRST REIT ("AmFIRST REIT Trustee"). The Writ of Summons and Statement of Claim had 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 13 March 2018 at 9 a.m. at the Kuala Lumpur High Court.

We will make further announcements as necessary on future developments in this matter.

This announcement is dated 6 March 2018.





Back