As previously announced on 19 October 2015 and 14 January 2016, 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. 

On 19 October 2015, 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. PTSB filed an appeal in the Court of Appeal against the said decision.

On 13 January 2016, the court allowed Ooi Kock Aun’s application to stay the proceedings pending the disposal of the arbitration between PT Goldchild and PTSB with costs in the cause. PTSB filed an appeal in the Court of Appeal against the said decision.

On 24 August 2016, PTSB’s appeal against PT Goldchild was withdrawn in the Court of Appeal. PTSB’s appeal against Ooi Kock Aun was dismissed by the Court of Appeal with costs to be paid to Ooi Kock Aun.