Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.
Type
| Announcement | |
| Subject | MATERIAL LITIGATION |
| Description |
KUALA LUMPUR HIGH COURT CIVIL SUIT NO: D2-22-1411-2005 (FORMERLY KNOWN AS SUIT NO. S1-22-144-2005) REGO MULTI-TRADES SDN BHD ("REGO") VS (1) ARAS CAPITAL SDN BHD (ARAS CAPITAL); (2) TAN SRI DATO' TAJUDIN BIN RAMLI ("TSDTR") (BY ORIGINAL ACTION); AND TSDTR VS REGO & 6 OTHERS (BY COUNTERCLAIM) |
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Axiata Group Berhad (“Axiata”) refers to its previous announcement dated 7 May 2008 in relation to:- i) Rego’s (now known as Celcom Trading Sdn Bhd) claim against TSDTR for amounts due to Rego pursuant to an investment agreement with Aras Capital and an indemnity letter given by TSTDR; and ii) Defense and counterclaim by TSTDR seeking to avoid and rescind the indemnity letter and damages for conspiracy of RM100.0 million against Rego, Technology Resources Industries Berhad (now known as Celcom Resources Berhad) and their Directors. Axiata wishes to announce that the High Court have today allowed Rego’s claim of RM264,525,889.77 with interest of 5% from 13 May 2013 until full settlement and dismissed TSDTR's counterclaim with costs of RM100,000.00 after full trial of the above matter. Axiata will make further announcements from time to time in respect of any material developments in this matter.
This announcement is dated 20 June 2016. . |
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| Company Name | AXIATA GROUP BERHAD |
| Stock Name | AXIATA |
| Date Announced | 21 Jun 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20062016-00050 |