MATERIAL LITIGATION KUALA LUMPUR HIGH COURT 22NCVC-1210-10-2012 (“CIVIL SUIT”) SHAMSUDIN BIN ABD HAMID AND 300 OTHERS V LEMBAGA TABUNG HAJI AND TH PLANTATIONS BERHAD (“THP” OR “THE COMPANY”)
| TH PLANTATIONS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | KUALA LUMPUR HIGH COURT 22NCVC-1210-10-2012 (“CIVIL SUIT”) SHAMSUDIN BIN ABD HAMID AND 300 OTHERS V LEMBAGA TABUNG HAJI AND TH PLANTATIONS BERHAD (“THP” OR “THE COMPANY”) |
The Board of Directors of THP wishes to announce that the above Civil Suit via a Writ of Summons and Statement of Claim dated 5 October 2012, had been received by Lembaga Tabung Haji (“LTH”) as the 1st Defendant and the Company as the 2nd Defendant on 10 October 2012. The Civil Suit was brought by one Shamsudin bin Abd Hamid (representing himself and 300 smallholders in Kampung Kota Bahagia, Kampung Lubuk Batu, Kampung Meripoh and surrounding areas in Mukim Keratong, Daerah Rompin, Negeri Pahang) (“Plaintiffs”). In the Civil Suit, the Plaintiffs are claiming for, amongst others: (a) special damages of RM394,761,557.30 being the alleged profit entitlement from the revenue of palm crop cultivated on the following lands which had been developed and managed by THP as oil palm plantations under a lease given by LTH as the proprietor of the said lands. These lands were alienated to LTH by the State Government of Pahang in 1972 for oil palm development:
vi. H.S. (D) 1419 No. P.T. 2549, Mukim Keratong, Daerah Rompin, Negeri Pahang. (The registered proprietor in respect of this title is THP).
The Plaintiffs have alleged that their entitlement to profit and ownership of 2,080 acres of the Lands as set out in (a) and (b) above arose from certain express terms (“syarat nyata”) imposed by the State Government of Pahang as conditions for the alienation of the Lands. THP had in 2005, submitted an application to the State Government of Pahang for these “syarat nyata” to be waived and this application was subsequently approved save for the condition that the Lands can only be utilised for cultivation for oil palm. THP has appointed the law firm of Zaid Ibrahim & Co to act on its behalf and to advise it on the proprietary of the Plaintiffs’ claims whereby THP will appropriately instruct its solicitors to vigorously defend the Civil Suit. Save for legal expenses, the Civil Suit has no material financial and operational impact on THP at present. THP is currently collating the relevant information in order to make an assessment of any expected losses arising from the Civil Suit. THP will from time to time, make the necessary announcements to Bursa Malaysia with respect to any further developments on the Civil Suit. This announcement is dated 12 October 2012. | |
Announcement Info
| Company Name | TH PLANTATIONS BERHAD |
| Stock Name | THPLANT |
| Date Announced | 12 Oct 2012 |
| Category | General Announcement |
| Reference No | TP-121012-63706 |