Reference is made to the Company’s announcement on 10 August 2018.  

The Company wishes to update that The High Court of Malaya at Kuala Lumpur has delivered the following decisions following the applications filed by HCM Engineering Sdn Bhd (“HCM”), a subsidiary of the Company in relation to the Adjudication Decision dated 4 July 2018 pursuant to  the Construction Industry Payment and Adjudication Act 2012: -

i)          the Originating Summons filed by HCM to set aside the Adjudication Decision dated 4 July 2018 obtained by the Respondent, Kuasatek (M) Sdn Bhd (“Kuasatek”) is dismissed with costs;

ii)         the Originating Summons filed by HCM for stay of the said Adjudication Decision is dismissed with costs except for the following items in the Adjudication Decision which has been allowed to be stayed:

a) Finance charges; and

b) Preparation of documents and research; and

iii)        The Originating Summons filed by Kuasatek to enforce the said Adjudication Decision is allowed with costs except for the following items in the Adjudication Decision which has been stayed:

a)     Finance charges; and

b)     Preparation of documents and research.