MATERIAL LITIGATION PROTASCO BERHAD - STAY AND SETTING ASIDE APPLICATIONS FOR BOTH JUDGMENTS IN DEFAULT ENTERED AGAINST HCM ENGINEERING SDN BHD (“HCM”), A SUBSIDIARY COMPANY, IN THE SUIT NO. 22-1558-2010 Menuju Asas Sdn Bhd -v- HCM Engineering Sdn Bhd AND SUIT NO. 22-1559-2010 Menuju Asas Sdn Bhd, Mohd Redzuan Mohanan Abdullah (B/s Menuju Asas Enterprise), Mohd Redzuan Mohanan Abdullah -v- HCM Engineering Sdn Bhd
| PROTASCO BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | PROTASCO BERHAD - STAY AND SETTING ASIDE APPLICATIONS FOR BOTH JUDGMENTS IN DEFAULT ENTERED AGAINST HCM ENGINEERING SDN BHD (“HCM”), A SUBSIDIARY COMPANY, IN THE SUIT NO. 22-1558-2010 Menuju Asas Sdn Bhd -v- HCM Engineering Sdn Bhd AND SUIT NO. 22-1559-2010 Menuju Asas Sdn Bhd, Mohd Redzuan Mohanan Abdullah (B/s Menuju Asas Enterprise), Mohd Redzuan Mohanan Abdullah -v- HCM Engineering Sdn Bhd |
Protasco Berhad wishes to update that at the hearing on 17 October 2012, the setting aside application of HCM Engineering Sdn. Bhd. (“HCM”) for both Shah Alam High Court Suit No: 22-1558-2010 and Shah Alam High Court Suit No: 22-1559-2010 were allowed with costs of RM3,000 (in total for both suits) to be paid by HCM to the Plaintiff, Menuju Asas Sdn Bhd. Since the setting aside application is allowed, HCM’s application for a stay of execution is rendered academic and therefore the stay application was withdrawn with no order as to costs. The Court has further directed HCM to file its Statement of Defence for both suits within 14 days from 17 October 2012.
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Announcement Info
| Company Name | PROTASCO BERHAD |
| Stock Name | PRTASCO |
| Date Announced | 17 Oct 2012 |
| Category | General Announcement |
| Reference No | CA-121017-56063 |