As previously announced on 25 August 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 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 On 24 August 2016, PTSB’s appeal against PT Goldchild was withdrawn in the Court of Appeal.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.

PTSB has filed an application for leave to appeal to the Federal Court by way of notice of motion in the Federal Court on 23 September 2016. The Federal Court has fixed 11 January 2017 for hearing of PTSB’s motion for leave to appeal to the Federal Court.