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MATERIAL LITIGATION UPDATE ON MATERIAL LITIGATION : BADANBAS SDN BHD vs PENGANGKUTAN AWAM PUTRAJAYA TRAVEL & TOURS SDN BHD

GETS GLOBAL BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
UPDATE ON MATERIAL LITIGATION : BADANBAS SDN BHD vs PENGANGKUTAN AWAM PUTRAJAYA TRAVEL & TOURS SDN BHD

Further to the Company's announcements on 24 October 2019 and 10 September 2020 whereby Pengangkutan Awam Putrajaya Travel & Tours Sdn Bhd (“PAPTT”), on 7 September  2020, had entered into Consent Judgement agreed to pay Badanbas Sdn Bhd (“BBS”) a sum of RM3,769,488.56 on or before 31 December 2020 and in the event that PAPTT fails to pay the said sum of RM3,769,488.56 or any portion thereof on or before 31 December 2020, the amount due and unpaid shall become immediately payable together with interest thereon at the rate of 5% per annum calculated from 17 May 2018. The Company wishes to update that no payment has been made. Notwithstanding the aforesaid, PAPTT will engage BBS with a view to agreeing alternate terms of settlement.

Any further development will be updated accordingly.

This Announcement is dated 31 December 2020.






Announcement Info

Company Name GETS GLOBAL BERHAD
Stock Name GETS
Date Announced 31 Dec 2020
Category General Announcement for PLC
Reference Number GA1-31122020-00071




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