Reference is made to the announcement dated 3 July 2026 pertaining to the subject matter. For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements unless otherwise defined herein.
The Board of Directors of the Company wishes to inform that Ta Win Industries (M) Sdn. Bhd. ("TWI" or "the Defendant"), a wholly-owned subsidiary of the Company, had on 22 July 2026 filed its Statement of Defence and Counterclaim in response to the Writ of Summons and Statement of Claim (Civil Suit No. WA-22NCC-550-06/2026) filed by Air Products Malaysia Sdn. Bhd. ("the Plaintiff").
The Defendant has denied all allegations regarding wrongful termination, along with the claim of RM3,567,430.25 made by the Plaintiff. The Defendant's position is that at all material time, the said Agreement was lawfully terminated in accordance with its terms, whether expressly and/or by impliedly. Further and/or in the alternative, the Defendant pleads that the said Agreement ceased to remain in full force and binding upon the parties on or about the end of October 2024 as the fundamental substratum of the said Agreement, namely the requirement to supply the Products, had ceased to exist and/or the said Agreement was frustrated at law by reason of circumstances beyond the control of both the Defendant and the Plaintiff.
The Defendant has filed a counterclaim against the Plaintiff for MTOP and MFC overpayments for a sum of RM531,800.00 and such further sums to be assessed by the Court, together with interest and costs.
On 23 July 2026, the matter was brought before the Kuala Lumpur High Court ("Court") for case management. The Court provided the following directions:-
(1) Plaintiff files reply to Defence and Defence to counterclaim on or before 23 August 2026.
(2) Defendant file reply to Defence to counterclaim on or before 23 September 2026.
(3) File any interlocutory applications on or before 30 September 2026.
(4) The next case management has been currently fixed on 30 September 2026 via e-review.
The Company will make the necessary announcement on any material developments relating to the above matter.
This announcement is dated 23 July 2026.