BURSA ANNOUCEMENTS

Date : 22 January 2019

MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD (METROPLEX) AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT (TRUSTEE) AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT (THE "MANAGER) (CIVIL SUIT NO: 22NCVC-523-09/2015)

SUNWAY REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject MATERIAL LITIGATION
Description
SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT")
- WRIT OF SUMMONS AND STATEMENT OF CLAIM BY METROPLEX HOLDINGS SDN BHD (METROPLEX) AGAINST OSK TRUSTEES BERHAD (NOW KNOWN AS RHB TRUSTEES BERHAD), AS TRUSTEE FOR SUNREIT (TRUSTEE) AND SUNWAY REIT MANAGEMENT SDN BHD, AS MANAGER FOR SUNREIT (THE "MANAGER) (CIVIL SUIT NO: 22NCVC-523-09/2015)

Further to the announcements dated 1 April 2016 and 6 November 2017, the Board of Directors of the Manager wishes to inform of a material development resulting from legal proceedings instituted by Metroplex against the Trustee and the Manager of SUNREIT respectively. This was based on the writ of summons and statement of claim dated 28 September 2015 filed by Metroplex claiming for various chattels and movable items which were allegedly acquired and owned by Metroplex but not removed by Metroplex when the Manager took possession of the Sunway Putra Hotel on 27 September 2011.

 

The High Court had allowed Metroplexís claim on liability on 3 November 2017 and ordered damages to be assessed.

 

The appeal of the Trustee and the Manager to the Court of Appeal was heard on 3 September 2018 and decision was reserved to a date to be fixed.

 

Today, the Court of Appeal unanimously allowed the appeal of the Trustee and the Manager and set aside the High Courtís decision. The Court of Appeal awarded costs of RM50,000 to the Trustee and the Manager.

 

This announcement is dated 22 January 2019.






Announcement Info

Company Name SUNWAY REAL ESTATE INVESTMENT TRUST
Stock Name SUNREIT
Date Announced 22 Jan 2019
Category General Announcement for PLC
Reference Number GA1-22012019-00101


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