MTD ACPI wishes to announce that its wholly-owned subsidiary, ACPM, has, on 26 March 2021, received the sealed Writ of Summons No. BL-B52NCVC-8-03/2021 and a Statement of Claim dated 23 March 2021 from Messrs Sebastian Cha & Co, the solicitors for the Plaintiff (“Writ and Statement of Claim”). The Plaintiff is claiming against ACPM for the following:-

1. total sum of RM394,290.92;

2. interest at the rate of 1.5% per month on RM363,604.59 calculated from 1 March 2021 until the date of full settlement;

3. costs; and

4. other reliefs deemed reasonable and appropriate by the Court.

The Plaintiff claimed that ACPM has failed to pay the balance outstanding sum of RM363,604.59 for transportation services provided by the Plaintiff to ACPM. 

The Company is of the view that save for the costs and other reliefs sought by the Plaintiff, which will only materialise if the Court rules in favour of the Plaintiff, the litigation will not result in any material financial impact on the Company as at the date of this announcement. Further, there shall be no impact on the Company’s operations.

The Court has fixed the matter for case management on 13 April 2021 by way of e-Review. The Company is seeking legal advice on this matter.

The Company will make the necessary announcements to Bursa Malaysia Securities Berhad on any material development in relation to the matter from time to time.

This announcement is dated 26 March 2021.