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BackSep 21, 2016

 

Type Announcement
Subject OTHERS
Description

THIRD PARTY NOTICE FROM EXPRESS RAIL LINK SDN BHD (ERL) SERVED ON MALAYSIA AIRPORTS HOLDINGS BERHAD (MAHB) AND MALAYSIA AIRPORTS (SEPANG) SDN BHD (MA SEPANG) PURSUANT TO ORDER 16 RULE 1(2) OF THE RULES OF COURT 2012

Malaysia Airports Holdings Berhad (“the Company”) wishes to announce that the Company and its wholly owned subsidiary Malaysia Airports (Sepang) Sdn. Bhd. (“MA Sepang”) has, on 21 September 2016 received a Third Party Notice dated 9 September 2016 (“Notice”) from Express Rail Link Sdn. Bhd. (“ERL”) to, inter alia, wholly indemnify ERL against a claim by Segi Astana Sdn. Bhd. for the  sum of  RM5,407,821.80 and further and continuing damages from 9 September 2016 until the date of vacant possession of Premises or until such date as deemed appropriate by Court for all losses and damages in the Civil Suit No.: WA-22NCVC-476-07/2016,

 

The Company and MA Sepang have instructed their solicitors to represent both the Company and MA Sepang in the legal action. Any further updates in respect of any material development will be made from time to time.

 

The Company and MA Sepang are taking all necessary measures to resist the legal action and are confident in resisting the legal action.

 

ERL’s claims are not expected to have a material impact on the earnings and the net assets of the Company and MA Sepang for the financial year ending 31 December 2016.

 

This announcement is dated 21 September 2016





Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 21 Sep 2016
Category General Announcement for PLC
Reference Number GA1-21092016-00070