JETSON

0.240

-0.005 (-2%)

MATERIAL LITIGATION KUMPULAN JETSON BERHAD ("JETSON" OR THE "COMPANY") - UPDATE ON THE NOTICE OF ARBITRATION FILED BY YDI SYNERGY SDN. BHD. AGAINST JETSON CONSTRUCTION SDN. BHD.

Amended Announcements
Please refer to the earlier announcement reference number: GA1-08042024-00066

KUMPULAN JETSON BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
KUMPULAN JETSON BERHAD ("JETSON" OR THE "COMPANY")
- UPDATE ON THE NOTICE OF ARBITRATION FILED BY YDI SYNERGY SDN. BHD. AGAINST JETSON CONSTRUCTION SDN. BHD.
 
Reference is made to the Company's announcements dated 8 April 2024, 1 September 2022, 24 June 2022 and 3 May 2022 (“Previous Announcements”). Unless otherwise stated, the terms used herein shall have the same meanings stated in the Previous Announcements.

The Company wishes to provide additional information for the announcement made on 8 April 2024 in respect of the Notice of Arbitration filed by YDI Synergy Sdn. Bhd. (“Claimant”) against Jetson Construction Sdn. Bhd. (“Respondent”):-

1. The Company had received a copy of the Arbitration Procedural Order No. 2 dated 14 June 2023. According to the Asian International Arbitration Centre (“AIAC”), further to the case management meeting held with Claimant and Respondent (collectively as “Parties”) on 13 June 2023, it is ordered that the Parties shall comply with the Procedural Timetable, unless otherwise ordered by the Tribunal.

2. As a general rule, the Procedurual Timetable should not be subject to any foreseen or foreseeable delay. The Tribunal may, in its discretion, grant extension(s) of time. Any request for an extension of time should be submitted with reasons for the request before the relevant deadline. The Parties may also grant short extensions of time to each other, as a matter of mutual courtesy, as long as such extensions do not materially affect the Procedural Timetable, in particular, the hearing dates, and the Tribunal is informed accordingly.

3. The Procedural Timeline is as follows:
No.
 
Date
 
Direction
 
Party
 
1
 
(8 weeks from 1.6.2023)

27.7.2023
 
Claimant to file Statement of Claim along with key supporting documents
 
Claimant
 
2
 
(8 weeks from item 1)

21.9.2023
 
Respondent to file Statement of Defence and Counterclaim, along with key supporting documents
 
Respondent 
3
 
(4 weeks from item 2)

19.10.2023
 
Claimant to file Reply and Defence to Counterclaim, along with key supporting documents
 
Claimant
 
4
 
(4 weeks from item 3)

16.11.2023
 
Claimant to file Reply and Defence to Counterclaim, along with key supporting documents
 
Respondent
 
5
 
(4 weeks from item 4)

14.12.2023
 
Parties to exchange documents not produced in pleadings for classification
 
Both parties
 
6
 
(2 weeks from item 5)

11.1.2024
 
Parties to exchange documents production requests, if any, in the form of a Redfern Schedule. The Redfern Schedule should contain the details set out in Article 3.3 of the IBA Rules on the Taking of Evidence in International Arbitration (2010)
 
Both parties
 
7
 
(3 weeks from item 5)

11.1.2024
 
Parties to classify opposing side's documents
 
Both parties
 
8
 
(5 weeks from item 7)

8.2.2024
 
Parties to respond to document production requests in the Redfern Schedule(s)

Parties to submit to Tribunal a Joint Preliminary List of Issues
 
Both parties
 
9
 
(2 weeks from item 8)

22.2.2024
 
Application to the Tribunal, if any, for document production attaching completed Redfern Schedule(s) in Word format 

Parties to produce documents which they do not object to producing
 
Both parties
 
10
 
(4 weeks from item 9)

21.3.2024
 
Tribunal to render its decision on documents requests
 
Tribunal
 
11
 
(3 weeks from item 10)

11.4.2024
 
Deadline to produce all responsive documents pursuant to the Tribunal's decision
 
Both parties
 
12
 
(3 weeks from item 4)

7.12.2023
 
Parties to exchange lists of issues requiring expert evidence

Parties to advise the identity of the experts, and on which discipline
 
Both parties
 
13
 
(6 weeks from item 6)

22.2.2024
 
Filing of Common Bundle of Documents
 
Claimant
 
14
 
(6 weeks from item 11)

23.5.2024
 
Parties to file and exchange Witness Statements of witnesses of fact
 
Both parties
 
15
 
(6 weeks from item 14)

4.7.2024
 
Parties to file and exchange Reply of Witness Statements of witnesses of fact
 
Both parties
 
16
 
(4 weeks from item 15)

1.8.2024
 
Parties to file and exchange Witness Statements of Expert witnesses
 
Both parties
 
17
 
(4 weeks from item 16)

29.8.2024
 
Parties to file and exchange Reply of Witness Statements of Expert witnesses
 
Both parties
 
18
 
(2 weeks from item 17)

12.9.2024
 
Parties to file Joint Statement/ Reply to Expert witnesses
 
Both parties
 
19
 
(2 weeks from item 18)
 
Each party to submit:-

  • a core bundle of documents (optional)
  • a chronology of events
  • a list of principal issues (or, agreed list of issues between the Parties)
Parties to provide the Arbitral Tribunal with an agreed statement of facts
 
Both parties
 
20
 
(2 weeks before first Hearing date)
 
Parties to serve their opening statements
 
Both parties
 
21
 
30.9.2024
 
Pre-Hearing telephone conference
 
Parties and Tribunal
 
22
 
15.10.2024 to 18.10.2024


22.10.2024 to 25.10.2024


5.11.2024 to 8.11.2024
 
Hearing
 
Parties and Tribunal
 
​The Company will make the relevant update announcement(s) in relation to the matter as and when there are material developments on the same.

This announcement is dated 9 April 2024.




Announcement Info

Company Name KUMPULAN JETSON BERHAD
Stock Name JETSON
Date Announced 09 Apr 2024
Category General Announcement for PLC
Reference Number GA1-09042024-00036


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