The Board of Directors of HLT wishes to announce that on 28 August 2020, HL Advance Technologies (M) Sdn. Bhd., a wholly-owned subsidiary of the Company has been served with a sealed Writ of Summons No. WA-22NCC-390-08/2020 accompanied by a Statement of Claim, both dated 18 August 2020 by WRP Asia Pacific Sdn. Bhd. (“Plaintiff”) who alleges, inter alia, that in the course of an internal investigation conducted by the Plaintiff, it was discovered that Lee Son Hong (1st Defendant), Too Sooi Keng (2nd Defendant), HL Advance Technologies (M) Sdn. Bhd. (3rd Defendant), Chan Yoke Chun (4th Defendant) and/or Wong Kok Wah (5th Defendant) had conspired to pay a total of RM36,000,000.00 to HL Advance Technologies (M) Sdn. Bhd. to the detriment of the Plaintiff
MATERIAL LITIGATION HLT GLOBAL BERHAD ("HLT" OR THE "COMPANY") - MATERIAL LITIGATION PURSUANT TO RULE 9.04(f) OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD HLT GLOBAL BERHAD
Type Announcement Subject MATERIAL LITIGATION Description HLT GLOBAL BERHAD ("HLT" OR THE "COMPANY") - MATERIAL LITIGATION PURSUANT TO RULE 9.04(f) OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD The Board of Directors of HLT wishes to announce that on 28 August 2020, HL Advance Technologies (M) Sdn. Bhd., a wholly-owned subsidiary of the Company has been served with a sealed Writ of Summons No. WA-22NCC-390-08/2020 accompanied by a Statement of Claim, both dated 18 August 2020 by WRP Asia Pacific Sdn. Bhd. (“Plaintiff”) who alleges, inter alia, that in the course of an internal investigation conducted by the Plaintiff, it was discovered that Lee Son Hong (1st Defendant), Too Sooi Keng (2nd Defendant), HL Advance Technologies (M) Sdn. Bhd. (3rd Defendant), Chan Yoke Chun (4th Defendant) and/or Wong Kok Wah (5th Defendant) had conspired to pay a total of RM36,000,000.00 to HL Advance Technologies (M) Sdn. Bhd. to the detriment of the Plaintiff.
Please refer to the attachment for the details of this announcement.
The matter has been fixed for a Case Management by way of e-Review on 7 September 2020 before Puan Malarselvi a/p Shanmugam.
As at the date of this announcement, there is no material financial and operational impact arising from the claims against the Company.
Steps taken and proposed to be taken in respect of the Writ of Summons and Statement of Claim
The Board is of the view that the legal claim is frivolous and vexatious and will defend the claim vigorously. The Board has appointed solicitors to handle the same and will make further announcement on any material development on the matter.
This announcement is dated 28 August 2020.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Algorithm_trading
80 posts
Posted by Algorithm_trading > 2020-08-28 18:05 | Report Abuse
nowadays trading in bursa no longer based on profit...only based on chart