Home | News
News
Material Litigation
Type | Announcement |
Subject | MATERIAL LITIGATION |
Description | SARAWAK CONSOLIDATED INDUSTRIES BERHAD ("SCIB" OR " THE COMPANY") - Writ of Summons under Suit No BA-22NCC-17-02/2025 ("the Summon") filed by SCIB and SCIB Properties Sdn. Bhd., a wholly-owned subsidiary of SCIB, collectively referred to as ("the Plaintiffs") against AWANA JV SURIA SAGA SDN. BHD. and MBSB BANK BERHAD |
We refer to the Company's earlier announcements dated 15 March 2021, 22 September 2021, 6 July 2023, 7 July 2023, 15 April 2024, 25 July 2024, 30 July 2024, 1 August 2024, 13 January 2025, 16 January 2025, 24 January 2025, 27 January 2025, 10 February 2025, 26 February 2025 and 10 March 2025 (collectively referred to as the "Announcements"). All abbreviations used in this announcement shall carry the same meaning as that given in the Announcements unless stated otherwise. The Board of Directors of SCIB wishes to announce that the Company has successfully obtained an interlocutory injunction order today restraining Awana JV Suria Saga Sdn. Bhd. from further utilizing the Islamic Financing Facility of RM63,900,000.00 (which only covers Existing Term Financing-I 1, Existing Term Financing-I 2 and Bridging Financing-I) granted to them by MBSB Bank Berhad pending the removal of the Company as the Corporate Guarantor or the disposal of this suit, whichever is earlier. The Court has fixed a case management date for the suit on 16 May 2025. Leading the Company's legal team is Eric Tan of Messrs. Ong Kok Bin & Co. SCIB will make the necessary announcements as and when there are further material updates. This announcement is dated 10 April 2025. Please refer attachment below. |
Announcement Info
Company Name | SARAWAK CONSOLIDATED INDUSTRIES BERHAD |
Stock Name | SCIB |
Date Announced | 10 Apr 2025 |
Category | General Announcement for PLC |
Reference Number | GA1-10042025-00042 |
Attachments
- SCIB_-_Press_Release_-_Update_of_Material_Litigation_to_bursa_20250410.pdf (Size: 181,294 bytes)