Protasco Berhad (“Company”) wishes to announce that its wholly owned subsidiary, Kumpulan Ikram Sdn. Bhd. (“KISB” or “Defendant”) had received a Writ of Summons and Statement of Claim (“Claim”), served by Tenaga Nasional Berhad (“TNB” or “Plaintiff”). TNB is seeking for the following relieves:
a. General damages to be quantified by the Court;
b Special damages amounting to RM6,799,961.83;
c. Any other / alternative, general damages to be assessed by the Court together with 5% interest per year to be calculated from the date of filing of the Claim until the date of full settlement;
d. Economic damages to be assessed by the Court together with 5% interest per year to be calculated from the date of filing of the Claim until the date of full settlement;
e. Interest of 5% per year on the said sum of RM6,799,961.83 to be calculated from the date of filing of the Claim until the date of full settlement; and
f. Exemplary damages to be assessed by the Court.
As a background, TNB had, on 13 July 2015, awarded to KISB a project known as “The Construction And Commission Of Retention Pond At Gelugor Power Station” (“Project”). It was alleged that during the execution of the said Project, KISB and/or its sub-contractor and/or its agent had struck an underground cable belonging to TNB. As a result of that, TNB had suffered losses and damages.
The Claim is not expected to have any operational impact to the Company. The financial impact, if any, cannot be ascertained at this juncture as it will be subject to the outcome of the legal proceedings of the Claim.
The Company will refer and appoint a firm of Solicitors to defend the Claim which the Company contends is without merit.
The Company will make further announcements from time to time in respect of any material development of this matter.