Bursa Announcement
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Date : 07 February 2011
MATERIAL LITIGATION
| MALAYSIAN RESOURCES CORPORATION BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | Malaysian Resources Corporation Berhad wishes to announce that its wholly-owned subsidiary, Superview Development Sdn Bhd (“Superview”) has been served with 1 Writ of Summon and Statement of Claim dated 28 January 2011 from Messrs Affendi Zahari, the Solicitors representing a plaintiff which was affected by the landslide incident at Bukit Antarabangsa on 6 December 2008. The claim amounts to RM1.940 million. The amount of claims does not have any material effect to the financial position and will not have any operational impact on MRCB Group. Superview is disputing the claims and has instructed its solicitors to file its defence to the claims. Further information is as follows: 1. The Summons were received by Superview on 2 February 2011; 2. The rate of interest claimed is not mentioned in the summons; 3. Superview is not a major subsidiary of the Company; 4. The total cost of investment in Superview is about RM36.6 million which have been fully provided for; 5. At this initial stage, the Company does not expect to incur any losses arising from the summons; 6. Hearing dates have been fixed 21 February 2011. Superview has to file its appearance by 9 February 2011. c.c. Securities Commission |
Announcement Info
| Company Name | MALAYSIAN RESOURCES CORPORATION BERHAD |
| Stock Name | MRCB |
| Date Announced | 7 Feb 2011 |
| Category | General Announcement |
| Reference No | MR-110207-65562 |
