The Company would like to announce that its wholly owned subsidiary, CJ Century Technology Sdn Bhd (‘CJCT’), has filed a Writ & Statement of Claim against Axisjaya Sdn. Bhd. and Seri Mutiara Development Sdn. Bhd. for RM2,621,823.91 and interest of RM62,043.28 for the supply and delivery of Air Conditioning units.
The action was filed and registered as Kuala Lumpur High Court Writ of Summons No.: WA-22NCC-271-07/2020 (‘Suit 271’). Suit 271 is fixed for hearing for summary judgement application on 2 October 2020.
The Company is of the opinion that it has a probable chance of obtaining the judgement in favour of CJCT. Nevertheless, full amount of the outstanding sum has been provided in the quarterly report for the period ended 30 June 2020.
The Company will make the necessary announcement in the event of any material development in due course.
This announcement is dated 27 August 2020.