NOTIFICATION OF CIVIL ACTION AGAINST BCM DEVELOPMENT SDN BHD, A SUBSIDIARY OF KEMAYAN CORPORATION BERHAD (SUMMON NO. MT2-22-344-2003)
| KEMAYAN CORPORATION BHD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | NM-030723-38528 |
| Subject | NOTIFICATION OF CIVIL ACTION AGAINST BCM DEVELOPMENT SDN BHD, A SUBSIDIARY OF KEMAYAN CORPORATION BERHAD (SUMMON NO. MT2-22-344-2003) |
Contents :
Refer to the Exchange's query dated 23 July 2003.
The Board of Directors of Kemayan Corporation Berhad ("KCB") hereby announce the following additional information in respect of the summon served on subsidiary, BCM Development Sdn Bhd ("BCM Dev"): -
1. Expected loss, if any, arising from the summons.
BCM Dev is unable to ascertain whether there will be any expected losses arising from the summons at the moment as the Development Right Agreement ("DRA") was wrongly terminated by the Landowner. The matter on wrongful termination is the subject matter of a Civil suit taken out by BCM Dev against the Landowner.
2. Financial and operational impact on the group, if any, arising from the summons.
Subject to the item 1 above, there is no financial and operational impact on the group as BCM Dev had discontinued on the development of the Project due to the wrongful termination of the DRA by the Landowner.
Query Letter Contents :
We refer to your announcement dated 22 July 2003 in respect of the aforesaid
matter.
In this connection, kindly furnish the Exchange immediately with the following
additional information for public release: -
1) Expected loss, if any, arising from the summons.
2) Financial and operational impact on the group, if any, arising from the
summons.
Yours faithfully
INDERJIT SINGH
Senior Manager
Listing Operations
IS/WSW/NMA
Announcement Info
| Company Name | KEMAYAN CORPORATION BHD |
| Stock Name | KEMAYAN |
| Date Announced | 24 Jul 2003 |
| Category | General Announcement |
| Reference No | CS-030724-EF1B2 |
