Reference is made to the Company’s earlier announcements dated 27 August 2020, 7 October 2020, 2 November 2020 and 19 November 2020 in respect of the material litigation as described above ("Previous Announcements").
For ease of reference, the terms and abbreviations used in the Previous Announcements shall be adopted herein, unless stated otherwise.
The Board of Directors of the Company wishes to announce that on 25 November 2020 and upon the application by the solicitors of Axisjaya Sdn. Bhd. ("Axisjaya") and Seri Mutiara Development Sdn. Bhd. ("Seri Mutiara"), the Court had granted an Interim Stay of Execution of the order that CJCT had obtained against Axisjaya and Seri Mutiara on 19 November 2020. The Hearing for the Stay of Execution proper has been fixed on 8 December 2020.
This announcement is dated 26 November 2020.
