Date : 17 July 2020

MATERIAL LITIGATION Mulpha International Bhd ("MIB") vs Mula Holdings Sdn Bhd ("Mula"), Bestari Sepang Sdn Bhd, Spanstead Sdn Bhd and Seri Ehsan (Sepang) Sdn Bhd

MULPHA INTERNATIONAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Mulpha International Bhd ("MIB") vs Mula Holdings Sdn Bhd ("Mula"), Bestari Sepang Sdn Bhd, Spanstead Sdn Bhd and Seri Ehsan (Sepang) Sdn Bhd

Further to our announcements dated 18 February 2016, 27 May 2016, 4 August 2016, 17 August 2016, 26 October 2016, 29 November 2017, 5 February 2018, 27 April 2018, 16 May 2018, 5 June 2018, 6 July 2018, 9 August 2018, 13 September 2018, 23 November 2018, 7 December 2018, 21 February 2019, 10 May 2019, 12 July 2019, 2 August 2019, 25 February 2020 and 15 May 2020, we wish to announce that during the hearing held today, 17 July 2020, the High Court Judge has delivered his judgement, subject to any appeals and further legal proceedings:-

 

1.   MIB was successful in proving the claim against the defendants (Mula Group), and the Judge found that Mula had breached the Settlement Agreement and that the said agreement was terminated on 15 December 2013.  The Judge declared the amount due and payable to MIB to be RM301 million plus interest and held that the Power Attorney is valid.  Further, the defendants are restrained from dealing with the Sepang Land.  

 

2.   MIB was also successful in defending the relevant counterclaim and the Judge dismissed Mula’s counterclaim with costs. 

 

 

 

This announcement is dated 17 July 2020.

 






Announcement Info

Company Name MULPHA INTERNATIONAL BERHAD
Stock Name MULPHA
Date Announced 17 Jul 2020
Category General Announcement for PLC
Reference Number GA1-15052020-00087


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