As previously announced on 19 October 2015, Protasco Berhad’s subsidiary, Protasco Trading Sdn Bhd (“PTSB”) has filed a legal suit at the Shah Alam High Court against PT Goldchild Integritas Abadi (“PT Goldchild”), an Indonesian company and Ooi Kock Aun for inter-alia a declaration that the Coal Supply Agreement dated 4 February 2013 is void and in breach of the Companies Act, 1965 and for a refund of the Deposit paid.
The Company wishes to announce that Ooi Kock Aun’s application to stay the proceedings pending the disposal of the arbitration between PT Goldchild and PTSB is fixed for decision on 13 January 2016.