Highlights:
add free Download App
premium Premium Account

Last Price Change Volume
Open: Day Range: Prev Close:


MATERIAL LITIGATION AWC BERHAD ("AWC" OR "THE COMPANY") - TRACKWORK & SUPPLIES SDN. BHD. ("THE PLAINTIFF") - WRIT OF SUMMONS AND STATEMENT OF CLAIM AGAINST HIKMAT ASIA SDN. BHD. ("THE DEFENDANT")

AWC BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
AWC BERHAD ("AWC" OR "THE COMPANY") 

-	TRACKWORK & SUPPLIES SDN. BHD. ("THE PLAINTIFF") - WRIT OF SUMMONS AND STATEMENT OF CLAIM AGAINST HIKMAT ASIA SDN. BHD. ("THE DEFENDANT")

Reference is made to AWC’s announcement on 12 May 2021 in relation to the Writ of Summons and Statement of Claim filed by the Plaintiff against the Defendant.

 

The Board wishes to inform that the Plaintiff has on 20 September 2021 obtained a Judgment in Default of appearance against the Defendant in the following terms: -

 

(a) The Defendant is to pay to the Plaintiff the sum of RM4,200,000.00 being the outstanding rent from September 2019 until November 2020;

 

(b) The Defendant is to pay to the Plaintiff the late payment interest in the sum of RM540,978.70 accrued and calculated as at 12.5.2021;

 

(c) The Defendant is to pay to the Plaintiff further late payment interest on the sum of RM4,200,000.00 at the rate of 1% per month from 13.5.2021 until full and final settlement;

 

(d) The Defendant, whether by itself, agents, employees, representatives or whosoever otherwise, are hereby ordered and do deliver forthwith to the Plaintiff the Gemac DCM 32III Tamping Machine (“Tamping Machine”) within two (2) days from the date of judgment;

 

(e) The Defendant is to pay to the Plaintiff the sum of RM1,436,129.00 for the use and possession of the Tamping Machine from December 2020 until 4.5.2021;

 

(f) The Defendant is to pay to the Plaintiff interest on the sum of RM1,436,129.00 at the rate of 1% per month from 5.5.2021 until full and final settlement;

 

(g) Damages to be assessed in relation to all losses and damages suffered by the Plaintiff:

 

(i) as a result of the Defendant’s breach of the agreement for the Tamping Machine dated 29.5.2019 (“Agreement”) including but not limited to, all costs and expenses incurred by the Plaintiff in tracing, retaking possession, removing, transporting, repairing, making good the Tamping Machine and/or the loss of value of the Tamping Machine; and

 

(ii) for and in respect of the use and possession of the Tamping Machine by the Defendant from 5.5.2021 until the date of repossession or delivery of the Tamping 3 Machine, or as otherwise from a date so determined by the Honourable Court;

 

(h) Interest at the rate of 1% per month or such other rate as this Honourable Court may order on the amount ordered to be paid by the Defendant to the Plaintiff at paragraph (g) from such period/date as the Honourable Court may order until full and final settlement; and 

 

(i) Costs of RM1,859.00.

 

The Board will make further announcement if there is any material update on the aforesaid case.

 

This announcement is dated 20 September 2021.

 






Announcement Info

Company Name AWC BERHAD
Stock Name AWC
Date Announced 20 Sep 2021
Category General Announcement for PLC
Reference Number GA1-20092021-00091




Close