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The Kuching High Court had on 16 June 2023, dismissed Phosphates' application for interim injunction.
The top management of Cahya Mata will continue to assert its claims through arbitration proceedings as well as to explore all other possible legal recourse to protect all its rights.
The Business, Financial and Operational Impacts of the Kuching High Court’s Refusal to Grant Interim Injunction
The ruling by the Kuching High Court may have implications for Phosphates' operations. If a power shutdown occurs, it will halt all activities at the plant. Since we have not yet begun commercial production, the financial effects on the Group will be limited to monthly expenses and operational costs incurred while the plant is not running.
MULTIPLE PROPOSALS FAST ENERGY HOLDINGS BERHAD ("FEHB" OR THE "COMPANY") I. PROPOSED DIVERSIFICATION; AND II. PROPOSED RIGHTS ISSUE WITH WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")