MATERIAL LITIGATION MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) -Writ of Summons and Statement of Claim by Zoomic Technology (M) Sdn. Bhd. ("ZTSB"), a wholly-owned subsidiary of Ire-Tex against Teh Eng Huat in the High Court of Malaya at Penang (Civil Suit No.: PA-22NCVC-186-09/2016)

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (Ire-Tex or the Company) -Writ of Summons and Statement of Claim by Zoomic Technology (M) Sdn. Bhd. ("ZTSB"), a wholly-owned subsidiary of Ire-Tex against Teh Eng Huat in the High Court of Malaya at Penang (Civil Suit No.: PA-22NCVC-186-09/2016)

Reference is made to the Company’s earlier announcement dated 26 April 2017.

Upon an internal review of the legal matters relating to Zoomic Technology (M) Sdn Bhd (“ZTSB”), the Board of Directors of ZTSB have discovered that a suit previously commenced by ZTSB in Penang High Court Civil Suit No PA-22NCVC-186-09/2016 against one Teh Eng Huat was wrongfully discontinued. The Board of Directors of ZTSB have since instructed its solicitors to file an application to set aside the Notice of Discontinuance dated 4 April 2017 filed in the Penang High Court and the Order dated 17 April 2017 granted by the High Court to strike out the action.

The application was filed yesterday in the Penang High Court and is fixed for case management on 27 December 2017. Pursuant to the said application, ZTSB is seeking for inter alia the following reliefs:

(a)     That the Notice of Discontinuance dated 4 April 2017 and the Order dated 17 April 2017 be set aside; and

(b)     The action be fixed for case management.

The said application is not expected to have any material financial impact on ZTSB or the Company.

The Company will make a further announcement in respect of this matter in due course. 






Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 28 Nov 2017
Category General Announcement for PLC
Reference Number GA1-28112017-00105