As previously announced on 29 September 2015, Protasco Berhad’s subsidiary, Protasco Trading Sdn Bhd (“PTSB”) has filed a legal suit at the Shah Alam High Court against PT Goldchild Integritas Abadi (“PT Goldchild”), an Indonesian company and Ooi Kock Aun for inter-alia a declaration that the Coal Supply Agreement dated 4 February 2013 is void and in breach of the Companies Act, 1965 and for a refund of the Deposit paid. 

Protasco Berhad wishes to announce that Ooi Kock Aun’s application to strike out PTSB’s legal suit was dismissed with costs of RM5,000.00 to be paid by Ooi Kock Aun to PTSB. PT Goldchild’s application to stay this legal proceedings pertaining to the claim against PT Goldchild pending arbitration was allowed with costs of RM5,000.00 to be paid by PTSB to PT Goldchild.

A hearing date is fixed on 10 December 2015 for Ooi Kock Aun’s application to stay the proceedings pending the disposal of the arbitration between PT Goldchild and PTSB.