Material Litigation - Mulpha International Bhd ("Mulpha") vs Mula Holdings Sdn Bhd, Bestari Sepang Sdn Bhd, Spanstead Sdn Bhd and Seri Ehsan (Sepang) Sdn Bhd
| MULPHA INTERNATIONAL BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-13112015-00002 |
| Subject | Material Litigation - Mulpha International Bhd ("Mulpha") vs Mula Holdings Sdn Bhd, Bestari Sepang Sdn Bhd, Spanstead Sdn Bhd and Seri Ehsan (Sepang) Sdn Bhd |
| Description | Mulpha International Bhd ("MIB") vs Mula Holdings Sdn Bhd ("Mula"), Bestari Sepang Sdn Bhd, Spanstead Sdn Bhd and Seri Ehsan (Sepang) Sdn Bhd |
| Query Letter Contents | We refer to your Company’s announcement dated 12 November 2015, in respect of the aforesaid matter. (1) The interest rate on the Full Outstanding Amount due and owing by Bestari Group. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully
Tan Yew Eng NMA Cc : Market Surveillance Dept., Securities Commission (via fax) |
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Reference is made to the Company’s announcement dated 12 November 2015 and the query letter from Bursa Malaysia Securities Berhad dated 13 November 2015 in respect of the aforesaid matter.
We are pleased to furnish the following additional information. Unless otherwise indicated, the abbreviations used herein are the same as those previously defined in the Company’s announcements dated 11 November 2015 and 12 November 2015.
(1) The interest rate on the Full Outstanding Amount due and owing by Bestari Group is 5% per annum.
(2) Save for the claim for damages to be assessed, MIB does not expect any potential liability to the MIB Group from the Counterclaim as the other relief sought against MIB Group will only have the effect of reducing and/or delaying the payment of the amounts due and owing to MIB Group. In respect of the claim for damages to be assessed, it is not possible to quantify the damages at this moment as it is subject to Mula and Bestari Group submitting evidence of the damages they have suffered and the Court accepting that Mula and Bestari Group actually suffered such damage.
This announcement is dated 16 November 2015. |
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Announcement Info
| Company Name | MULPHA INTERNATIONAL BERHAD |
| Stock Name | MULPHA |
| Date Announced | 16 Nov 2015 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16112015-00083 |
