MATERIAL LITIGATION Federal Court Civil Application No. 02(f)-80-08/2022(W) (Appeal 80) Court of Appeal Civil Appeal No. W-02(IM)(NCC)-1551-08/2019 (Appeal 1551) (KL High Court Originating Summons No. WA-24NCC-56-02/2019) (OS 56) Appellant: Apex Equity Holdings Berhad & Anor Respondent: Concrete Parade Sdn. Bhd.

APEX EQUITY HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
Federal Court Civil Application No. 02(f)-80-08/2022(W) (Appeal 80)
Court of Appeal Civil Appeal No. W-02(IM)(NCC)-1551-08/2019 (Appeal 1551)
(KL High Court Originating Summons No. WA-24NCC-56-02/2019) (OS 56)
Appellant: Apex Equity Holdings Berhad & Anor
Respondent: Concrete Parade Sdn. Bhd.

Reference is made to the announcements by the Company on 2 August 2023, 18 May 2023, 11 May 2023, 10 May 2023, 16 February 2023, 11 August 2022, 11 May 2022, 28 February 2022, 8 February 2022, 27 October 2021, 20 September 2021, 24 August 2021, 19 August 2021, 14 June 2021, 28 May 2021, 2 April 2021, 19 February 2021, 7 December 2020, 17 November 2020, 10 September 2020, 7 September 2020, 14 August 2020, 4 May 2020, 6 April 2020, 12 February 2020, 31 January 2020, 17 January 2020, 4 December 2019, 25 November 2019, 21 November 2019, 14 November 2019, 11 November 2019, 11 September 2019, 21 August 2019, 8 August 2019, 6 August 2019, 1 August 2019, 9 July 2019, 21 June 2019, 16 May 2019, 18 March 2019 and 25 February 2019. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcements.
The Company wishes to inform that the Federal Court has overturned the Court of Appeal’s ("COA") decision issued on 18 August 2021. Therefore, the decision of the High Court is upheld and reinstated. The Federal Court ruled that there was no oppression and ordered the Respondent to pay costs of RM150,000.00 to each of the Appellants, i.e.: the Company and Apex Securities Berhad, its wholly owned subsidiary. The Federal Court also ruled that the costs that were paid by the Appellants in the lower courts (High Court and COA) be refunded to the Appellants accordingly.
This announcement concludes the above matter.
This announcement is dated 26 March 2024.



Announcement Info

Company Name APEX EQUITY HOLDINGS BERHAD
Stock Name APEX
Date Announced 26 Mar 2024
Category General Announcement for PLC
Reference Number GA1-26032024-00057