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MATERIAL LITIGATION GUH HOLDINGS BERHAD ("GUH" OR "THE COMPANY") UPDATES ON STAY OF EXECUTION AND SETTING ASIDE OF ADJUDICATION DECISION APPLICATIONS BY JAKS-KACC JV

GUH HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
GUH HOLDINGS BERHAD ("GUH" OR "THE COMPANY")
UPDATES ON STAY OF EXECUTION AND SETTING ASIDE OF ADJUDICATION DECISION APPLICATIONS BY JAKS-KACC JV

Reference is made to the announcements on 18 August, 7 October, 15 November, 23 December, 27 and 29 December 2022, 10 and 20 January, 17 February and 9 March 2023 by the Company in relation to the above matters. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

 

The Board of Directors of the Company wishes to announce that Teknoserv Engineering Sdn. Bhd. (“Teknoserv”) has duly filed its Affidavits in Reply in response to the following High Court applications filed by JAKS Sdn. Bhd. and KACC Construction Sdn. Bhd. as members of the unincorporated joint venture known as JAKS-KACC JV:

  1. Application to stay the execution of the Adjudication Decision dated 23 December 2022 under the Construction Industry Payment and Adjudication Act 2012 in favour of Teknoserv (the “Adjudication Decision”).
  2. Application to set aside the Adjudication Decision.

Teknoserv will contest the above applications and the Company will make the appropriate announcements as and when there are material developments in relation thereof.

 

This announcement is dated 15 March 2023.






Announcement Info

Company Name GUH HOLDINGS BERHAD
Stock Name GUH
Date Announced 15 Mar 2023
Category General Announcement for PLC
Reference Number GA1-15032023-00037



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