MATERIAL LITIGATION MCOM HOLDINGS BERHAD ("MCOM HOLDINGS" OR "THE COMPANY") WRIT OF SUMMONS AND STATEMENT OF CLAIM ON MCATCH (L) BHD (COMPANY NO: LL12140) ("FIRST DEFENDANT"), HO KIM HUN (NRIC NO: 670729-02-5011) ("SECOND DEFENDANT"), CHEW LEE POH (NRIC NO: 681029-02-5030) ("THIRD DEFENDANT") AND THE COMPANY ("FOURTH DEFENDANT") (COLLECTIVELY REFERRED AS "DEFENDANTS")
| MCOM HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | MCOM HOLDINGS BERHAD ("MCOM HOLDINGS" OR "THE COMPANY")
WRIT OF SUMMONS AND STATEMENT OF CLAIM ON MCATCH (L) BHD (COMPANY NO: LL12140) ("FIRST DEFENDANT"), HO KIM HUN (NRIC NO: 670729-02-5011) ("SECOND DEFENDANT"), CHEW LEE POH (NRIC NO: 681029-02-5030) ("THIRD DEFENDANT") AND THE COMPANY ("FOURTH DEFENDANT") (COLLECTIVELY REFERRED AS "DEFENDANTS") |
|
We refer to the Company's announcement made on 7 March 2024. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcement.
Further to the announcement made on 7 March 2024, the Board of Directors of the Company (“Board”) wishes to announce the following additional information:
The financial and operational impact on MCOM group in the event the judgement is in favour of the Plaintiff
The Board is of the opinion that in the event the court's judgement is in favour of the Plaintiff, the Board does not anticipate the compensation/claim amount would result in any material impact to MCOM Group’s financial performance and operations for the financial year ending 31 December 2024.
In this context, the Board does not anticipate the amount to be in excess of RM584,057.60, the profit and/or late payment charges at the rates as mentioned therein (“Foreseeable Loss”), being the amount originally sought by the Plaintiff prior to the filing of Writ of Summons and Statement of Claim.
Save for the legal fees and disbursements associated with the Writ of Summons and Statement of Claim and the Foreseeable Loss, the legal suit is not expected to have material impact to MCOM Group’s financial and operations for the financial year ending 31 December 2024.
The Company will make further announcement if there is any material development arising thereto.
This announcement is dated 11 March 2024. |
|
Announcement Info
| Company Name | MCOM HOLDINGS BERHAD |
| Stock Name | MCOM |
| Date Announced | 11 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11032024-00079 |