BURSA ANNOUCEMENTS

Date : 03 March 2022

MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD ("METROPLEX") AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT ("TRUSTEE") AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT ("THE MANAGER") (CIVIL SUIT NO: 22NCVC-523-09/2015) AND FEDERAL COURT APPLICATION FOR LEAVE NO. 08 (f)-53-02/2019(W) AND FEDERAL COURT CIVIL APPEAL NO. 02(f)-93-12/2019(W)

SUNWAY REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject MATERIAL LITIGATION
Description
SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT")
- WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD ("METROPLEX") AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT ("TRUSTEE") AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT ("THE MANAGER") (CIVIL SUIT NO: 22NCVC-523-09/2015) AND FEDERAL COURT APPLICATION FOR LEAVE NO. 08 (f)-53-02/2019(W) AND FEDERAL COURT CIVIL APPEAL NO. 02(f)-93-12/2019(W)
We refer to our announcements dated 1 April 2016, 6 November 2017, 22 January 2019, 22 February 2019, 30 August 2019, 25 November 2019, 15 September 2020 and 31 March 2021 in relation to the above matter.

On 31 March 2021, the Federal Court allowed Metroplex’s appeal by setting aside the order of the Court of Appeal dated 22 January 2019, restoring the judgment of the High Court dated 3 November 2017 and ordered the assessment of damages against the Trustee and Manager to proceed before the High Court.

On 22 February 2022, during the hearing of Metroplex’s application for directions for the conduct of assessment of damages before the High Court, the High Court gave the necessary directions for the hearing of the assessment of damages and fixed the trial for the said assessment from 3rd to 6th October 2022. At this stage, the financial impact cannot be determined pending the outcome of the said assessment proceedings.

This announcement is dated 3 March 2022.

 






Announcement Info

Company Name SUNWAY REAL ESTATE INVESTMENT TRUST
Stock Name SUNREIT
Date Announced 03 Mar 2022
Category General Announcement for PLC
Reference Number GA1-03032022-00041


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