Pursuant to Paragraph 9.03 of Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of JCB wishes to inform that CASB had on 10 August 2023 received a Writ of Summons and Statement of Claim filed by Messrs. Goh Rafidah Tan, the Solicitors acting on behalf of TNB, the Plaintiff.

1) THE DATE OF THE PRESENTATION OF THE WRIT OF SUMMONS AND STATEMENT OF CLAIM AND THE DATE OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM WAS SERVED ON THE COMPANY

The Writ of Summons and Statement of Claim are both dated 3 August 2023. Both were received by CASB vide letter dated 7 August 2023 Messrs. Goh Rafidah Tan, the Solicitors acting on behalf of the Plaintiff on 10 August 2023.

2) THE PARTICULARS OF THE CLAIM UNDER THE WRIT OF SUMMONS AND STATEMENT OF CLAIM

The Plaintiff is seeking and claiming CASB the following:-

a) Amount owed by:- 

(i)   RM147,551.60 which is the amount owed as of 13 July 2023

(ii)  RM215,024.75 which is the amount owed as of 13 July 2023

(iii) RM5,310.20 which is the amount owed as of 1 July 2023

(iv) RM41,956.30 which is the amount owed as of 1 July 2023

(v)  RM296319.80 which is the amount owed as of 13 July 2023

(vi) RM235,685.50 which is the amount owed as of 1 July 2023;

(b) the Defendant to pay to the Plaintiff interest at a rate of 5% per annum on the above amount starting from the date of judgement until date of settlement;

(c) the Defendant to pay to the Plaintiff on the costs of the action; and

(d) any relief deemed fit and expedient by the Court.

3) THE DETAILS OF THE DEFAULT OR CIRCUMSTANCES LEADING TO THE FILING OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM ON ITS SUBSIDIARY

The circumstances leading to the filing of the Writ of Summons and Statement by the Plaintiff was due to the claim that CASB had failed to pay the outstanding monthly electricity bills for a total sum of RM941,848.15.

4) THE FINANCIAL AND OPERATIONAL IMPACT OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM ON THE GROUP

Save for the amount of RM941,848.15 claimed by TNB together with the interest to be charged on the outstanding amount and legal cost to be incurred by the Company, the litigation is not expected to have other financial and operational impact to the Group.

5) THE STEPS TAKEN AND PROPOSED TO BE TAKEN BY THE COMPANY IN RESPECT OF THE WRIT OF SUMMON AND STATEMENT OF CLAIM

The Company is seeking the necessary legal advice to resolve and/or defense against this matter.

Further announcement(s) to Bursa Malaysia Securities Berhad on any material development on the above will be made in due course.

This announcement is dated 11 August 2023.