As previously announced, HCM Engineering Sdn. Bhd. (“HCM”), a wholly owned subsidiary of Protasco Berhad received notice on 25 October 2011 that two judgments in default of appearance was entered against them for the sum of RM507,661.78 in Shah Alam High Court Suit No: 22-1558-2010 and the sum of RM9,960,492.17 in Shah Alam High Court Suit No: 22-1559-2010 respectively.

Both judgments were entered on 11 July 2011 and carry interest at the rate of 8% per annum from 6 December 2010 till the date of full realisation.

As also previously announced, HCM has on 17.10.2012 successfully set aside both judgments in default of appearance and has filed its Statement of Defence on 22.10.2012. On 13.06.2013 HCM proceeded to file an application to strike out both abovementioned suits (“striking out application”). A new case management date has been fixed on 14.08.2013 to enable parties to finalise the exchange of affidavits.