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BURSA ANNOUNCEMENTS

Date : 27 June 2003

LITIGATION AGAINST JUTAJAYA HOLDING BERHAD

JUTAJAYA HOLDING BERHAD

Type

Reply to query
Reply to Query Letter by KLSE reference IDMN-030626-33115
SubjectLITIGATION AGAINST JUTAJAYA HOLDING BERHAD

Contents :

1. The circumstances leading to the filing of the legal suit arises from a default by the Company of a hire purchase agreement dated 13 June 2000 in respect of one Volvo S70 bearing registration no. WHP 9152. The Plaintiff (Southern Finance Berhad) claims to have served a Notice under the Fourth Schedule, Section 16 of the Hire Purchase Act 1996 to the Company on 14 February 2003 and subsequently a Notice dated 28 February 2003 to repossess the vehicle. The Plaintiff further claims to be unable to trace the vehicle and consequently is unable to repossess the vehicle and has sufferred loss.


2. The Plaintiff claims the following from the Company:
(a) the outstanding sum of RM94,263.69 as at 14 April 2003;
(b) interest at the rate of 8% per annum on the principal sum of RM94,263.69 from 15 April 2003 until the date of full settlement;
(c) cost; and
(d) any further order that the Honourable Court deems fit and proper to grant.

The financial impact on the Group would be the total of 2(a) to 2(d). There is no operational impact on the Group arising from the litigation.

3. The expected losses arising from the litigation will be the total of 2(a) to 2(d) above.

4. The Company has on 27 June 2003 notified the solicitors for the Plaintiff that the Company is undergoing a proposed corporate and debt restructuring scheme and has been granted a restraining order by the Kuala Lumpur High Court pursuant to Section 176(10) of the Companies Act, 1965.

Query Letter Contents :

We refer to your Company's announcement dated 25 June 2003 in respect of the
aforesaid matter.
In this connection, kindly furnish the Exchange immediately with the following
additional information for public release:-
1. The details of the default or circumstances leading to the filing of the
litigation against the Company.
2. The expected losses to your Group arising from the litigation.
3. The financial and operational impact on the Group.
4. The steps taken and proposed to be taken by your Company in respect of the
litigation.

Yours faithfully


TAN YEW ENG
Senior Manager, Listing Operations
WSW/TYE/LMN
copy to: Securities Commission (via fax)



Announcement Info

Company NameJUTAJAYA HOLDING BERHAD  
Stock Name JUTA    
Date Announced27 Jun 2003  
CategoryGeneral Announcement
Reference NoCN-030627-55549

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