Registration No. 200301030845 (633265-K) - 154 - 40. Material Litigation (Cont’d) (i) Singapore International Arbitration Centre Suit No. ARB181/24/VKH (Cont’d) The Claimant has claimed for the following reliefs in the Notices of Arbitration: (Cont’d) (b) Post-award interest on any sum awarded by the tribunal until the date of full repayment; (c) Alternative to the prayers abovementioned relief, damages to be assessed; (d) Such further or other reliefs that the tribunal deems fit to grant; and (e) All costs and expenses incurred by the Claimant occasioned by these proceedings (including but not limited to legal costs and disbursements, the costs and expenses of the tribunal, transcription services, the costs of expert advice and/or assistance required by the tribunal and the fees and expenses of the appointing authority) to be paid by the Respondent. Under the SIAC Rules, the Respondents are both required to file a Response to the Notices of Arbitration with SIAC within 14 days from receipt of the Notices of Arbitration. The case under pre-hearing stage currently. (ii) Shah Alam High Court Suit No. BA-28NCC-459-08/2024 Pursuant to the Petition, the wholly-owned subsidiary, Destini Armada Sdn. Bhd. (“DASB”) has allegedly failed to pay outstanding tax liabilities amounting to RM2,934,963.75, plus interest of RM177,360.89 and RM392,727.68 to Lembaga Hasil Dalam Negeri (LHDN) (“Petitioner”). The Petitioner prays for the following orders: (a) That Destini Armada be wound up by the Court under the provisions of Section 465(1)(e) of the Companies Act, 2016. (b) That the Official Receiver of Malaysia be appointed as the Official Liquidator of Destini Armada. (c) That the costs of the Petition be paid out of the assets of Destini Armada. Settlement proposal have been submitted LHDN. The case management for e-review has been scheduled for 9 September 2024, and the hearing date has been fixed for 11 November 2024. 231 DESTINI BERHAD ANNUAL REPORT 2024
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