MATERIAL LITIGATION GDB Holdings Berhad ("GDB" or "the Company") - Originating Summons No. WA-28JM-3-01/2024 by KCJ Properties Sdn. Bhd. ("KCJP") to place Damai City Sdn. Bhd. ("DCSB") under Judicial Management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Kuala Lumpur.
| GDB HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | GDB Holdings Berhad ("GDB" or "the Company") - Originating Summons No. WA-28JM-3-01/2024 by KCJ Properties Sdn. Bhd. ("KCJP") to place Damai City Sdn. Bhd. ("DCSB") under Judicial Management pursuant to Sections 404 and 405 of the Companies Act 2016 in the High Court of Malaya at Kuala Lumpur. |
Further to the announcement made on 9 January 2024 with regards to the same matter, the Board of Directors of the Company wishes to inform that Grand Dynamic Builders Sdn. Bhd., a wholly-owned subsidiary of the Company, has been notified by its solicitors on 20 March 2024 that KCJP’s application to place DCSB under judicial management and for the appointment of a judicial manager pursuant to Sections 404 and 405 of the Companies Act 2016 has been dismissed by the High Court, with the issue of costs to be decided on 3 April 2024. This announcement is dated 20 March 2024. |
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Announcement Info
| Company Name | GDB HOLDINGS BERHAD |
| Stock Name | GDB |
| Date Announced | 20 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20032024-00026 |