GENETEC - General Announcement
Announcement Type: General Announcement
Company Name: GENETEC TECHNOLOGY BERHAD (ACE Market)
Stock Name: GENETEC
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: GENETEC TECHNOLOGY BERHAD (''GENETEC'' OR THE ''COMPANY'')
INCORPORATION OF A NEW WHOLLY-OWED SUBSIDIARY BY A SUBSCRIPTION OF SHARES IN THE CAPITAL OF GENETEC GLOBAL TECHNOLOGIES, INC. ("GT GLOBAL TECH") BY GENETEC
Contents: The Board of Directors of Genetec wishes to announce that the Company has incorporated a new wholly-owned subsidiary in the United States of America ("USA"), namely GT GLOBAL TECH by a subscription of its entire total issued and paid-up share capital of 100 shares of common stock of USD0.01 each at a premium of USD0.99 fully paid-up (the "New Incorporation").
INFORMATION ON THE NEW SUBSIDIARY
GT GLOBAL TECH was incorporated on 21 December 2010. (The certificate on confirmation of incorporation was only made available to the Company today.)
The authorised capital is 1,000 shares of common stock of USD0.01 each and the total paid up capital is USD100 (approximately RM310 based on an exchange rate of RM3.10 for every USD1.00) comprising 100 shares of USD0.01 each issued at a premium of USD0.99.
The first directors of GT GLOBAL TECH are Messrs Ronnie J Ortscheid, Chin Kem Weng and Ong Phoe Be.
RATIONALE
GT GLOBAL TECH is set up to be the investment holding company in the USA. GT GLOBAL TECH will also be the corporate branding and vehicle for Genetec's current and future business undertakings in the USA and Europe.
FINANCIAL EFFECTS
The New Incorporation is not expected to have any material effect on earnings and net assets of the Company for the financial year ending 31 March 2011. The aforesaid New Incorporation is expected to contribute positively to the future earnings of the Company.
The New Incorporation is wholly funded by internally generated funds. There is no effect on the share capital and substantial shareholders' shareholding of Genetec.
DIRECTORS AND MAJOR SHAREHOLDERS' INTEREST
Save for the following persons being nominated by Genetec to act as the directors of GT GLOBAL TECH, none of the directors and/or major shareholders of the Company and/or persons connected with any of them has any direct/indirect interests in the New Incorporation:-
1. Ronnie J Ortscheid (being the chairman and executive director of Genetec)
2. Chin Kem Weng (being the managing director and substantial shareholder of Genetec)
3. Ong Phoe Be (being the executive director and shareholder of Genetec)
APPROVAL REQUIRED
The said New Incorporation is not subject to the approval of the shareholders of the Company or any other relevant authorities.
STATEMENT BY DIRECTORS
The directors are of the opinion that the New Incorporation is in the best interest to the Company and Group.
This announcement is dated 23 December 2010.
Company Name: GENETEC TECHNOLOGY BERHAD (ACE Market)
Stock Name: GENETEC
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: GENETEC TECHNOLOGY BERHAD (''GENETEC'' OR THE ''COMPANY'')
INCORPORATION OF A NEW WHOLLY-OWED SUBSIDIARY BY A SUBSCRIPTION OF SHARES IN THE CAPITAL OF GENETEC GLOBAL TECHNOLOGIES, INC. ("GT GLOBAL TECH") BY GENETEC
Contents: The Board of Directors of Genetec wishes to announce that the Company has incorporated a new wholly-owned subsidiary in the United States of America ("USA"), namely GT GLOBAL TECH by a subscription of its entire total issued and paid-up share capital of 100 shares of common stock of USD0.01 each at a premium of USD0.99 fully paid-up (the "New Incorporation").
INFORMATION ON THE NEW SUBSIDIARY
GT GLOBAL TECH was incorporated on 21 December 2010. (The certificate on confirmation of incorporation was only made available to the Company today.)
The authorised capital is 1,000 shares of common stock of USD0.01 each and the total paid up capital is USD100 (approximately RM310 based on an exchange rate of RM3.10 for every USD1.00) comprising 100 shares of USD0.01 each issued at a premium of USD0.99.
The first directors of GT GLOBAL TECH are Messrs Ronnie J Ortscheid, Chin Kem Weng and Ong Phoe Be.
RATIONALE
GT GLOBAL TECH is set up to be the investment holding company in the USA. GT GLOBAL TECH will also be the corporate branding and vehicle for Genetec's current and future business undertakings in the USA and Europe.
FINANCIAL EFFECTS
The New Incorporation is not expected to have any material effect on earnings and net assets of the Company for the financial year ending 31 March 2011. The aforesaid New Incorporation is expected to contribute positively to the future earnings of the Company.
The New Incorporation is wholly funded by internally generated funds. There is no effect on the share capital and substantial shareholders' shareholding of Genetec.
DIRECTORS AND MAJOR SHAREHOLDERS' INTEREST
Save for the following persons being nominated by Genetec to act as the directors of GT GLOBAL TECH, none of the directors and/or major shareholders of the Company and/or persons connected with any of them has any direct/indirect interests in the New Incorporation:-
1. Ronnie J Ortscheid (being the chairman and executive director of Genetec)
2. Chin Kem Weng (being the managing director and substantial shareholder of Genetec)
3. Ong Phoe Be (being the executive director and shareholder of Genetec)
APPROVAL REQUIRED
The said New Incorporation is not subject to the approval of the shareholders of the Company or any other relevant authorities.
STATEMENT BY DIRECTORS
The directors are of the opinion that the New Incorporation is in the best interest to the Company and Group.
This announcement is dated 23 December 2010.
SANICHI - Sanichi Technology Berhad ("the Company") - Results of the 6th Annual General Meeting ("6th AGM")
Announcement Type: General Announcement
Company Name: SANICHI TECHNOLOGY BERHAD (ACE Market)
Stock Name: SANICHI
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: Sanichi Technology Berhad ("the Company")
- Results of the 6th Annual General Meeting ("6th AGM")
Contents: The Board of Directors of the Company is pleased to inform that the shareholders of the Company have at the 6th AGM held today, 23 December 2010, approved all the resolutions as set out in the Notice of the 6th AGM dated 1 December 2010.
This announcement is dated 23 December 2010.
Company Name: SANICHI TECHNOLOGY BERHAD (ACE Market)
Stock Name: SANICHI
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: Sanichi Technology Berhad ("the Company")
- Results of the 6th Annual General Meeting ("6th AGM")
Contents: The Board of Directors of the Company is pleased to inform that the shareholders of the Company have at the 6th AGM held today, 23 December 2010, approved all the resolutions as set out in the Notice of the 6th AGM dated 1 December 2010.
This announcement is dated 23 December 2010.
GREENYB - Quarterly rpt on consolidated results for the financial period ended 31/10/2010
Announcement Type: Financial Results
Company Name: GREENYIELD BERHAD (ACE Market)
Stock Name: GREENYB
Date Announced: 23/12/2010
Announcement Detail:
Financial Year End: 31/07/2011
Quarter: 1
Quarterly report for the financial period ended: 31/10/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: GREENYIELD BERHAD (ACE Market)
Stock Name: GREENYB
Date Announced: 23/12/2010
Announcement Detail:
Financial Year End: 31/07/2011
Quarter: 1
Quarterly report for the financial period ended: 31/10/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
RHBCAP - RHB CAPITAL BERHAD ("RHB CAPITAL" OR "COMPANY") INCORPORATION OF A NEW SUBSIDIARY
Announcement Type: General Announcement
Company Name: RHB CAPITAL BERHAD
Stock Name: RHBCAP
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: RHB CAPITAL BERHAD ("RHB CAPITAL" OR "COMPANY")
INCORPORATION OF A NEW SUBSIDIARY
Contents: We refer to our announcement dated 13 October 2010 on the incorporation of RHB Islamic Asset Management Sdn Bhd, a wholly owned subsidiary of RHB Investment Management Sdn Bhd, which in turn is a wholly owned subsidiary of RHB Investment Bank Berhad (the wholly owned subsidiary of RHB Capital Berhad).
The Board of Directors of RHB Capital is pleased to announce that RHB Islamic Asset Management Sdn Bhd had on 22 December 2010, received approval in principle for the Capital Markets Services Licence -Islamic Fund Management under the Capital Markets and Services Act 2007 from the Securities Commission.
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The principal activity of RHB Islamic Asset Management Sdn Bhd is to carry on the business as Islamic investment managers, advisers, consultants, and to provide investment management, advisory, consultancy services of every description in accordance with Shariah principles, rules and practices.
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This announcement is dated 23 December 2010.
Company Name: RHB CAPITAL BERHAD
Stock Name: RHBCAP
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: RHB CAPITAL BERHAD ("RHB CAPITAL" OR "COMPANY")
INCORPORATION OF A NEW SUBSIDIARY
Contents: We refer to our announcement dated 13 October 2010 on the incorporation of RHB Islamic Asset Management Sdn Bhd, a wholly owned subsidiary of RHB Investment Management Sdn Bhd, which in turn is a wholly owned subsidiary of RHB Investment Bank Berhad (the wholly owned subsidiary of RHB Capital Berhad).
The Board of Directors of RHB Capital is pleased to announce that RHB Islamic Asset Management Sdn Bhd had on 22 December 2010, received approval in principle for the Capital Markets Services Licence -Islamic Fund Management under the Capital Markets and Services Act 2007 from the Securities Commission.
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The principal activity of RHB Islamic Asset Management Sdn Bhd is to carry on the business as Islamic investment managers, advisers, consultants, and to provide investment management, advisory, consultancy services of every description in accordance with Shariah principles, rules and practices.
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This announcement is dated 23 December 2010.
TDM - TDM-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Announcement Type: Listing Circular
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 23/12/2010
Announcement Detail:
Subject: TDM-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Contents: Kindly be advised that the abovementioned Company's additional 660,500 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Monday, 27 December 2010.
Company Name: TDM BERHAD
Stock Name: TDM
Date Announced: 23/12/2010
Announcement Detail:
Subject: TDM-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Contents: Kindly be advised that the abovementioned Company's additional 660,500 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Monday, 27 December 2010.
IRCB - Profile for Warrants
Announcement Type: Listing Information & Profile
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: INTEGRATED RUBBER CORPORATION BERHAD
Stock Name: IRCB
Date Announced: 23/12/2010
Announcement Detail:
Instrument Type: Warrants
Description: Free detachable new Warrants issued pursuant to the Rights Issue with Warrants
Listing Date: 24/12/2010
Issue Date: 21/12/2010
Issue/ Ask Price: MYR 0.0000
Issue Size Indicator: Unit
Issue Size in Unit: 236,810,480
Maturity Date: 18/12/2015
Exercise/ Conversion Period: 5.00 Year(s)
Exercise/Strike/Conversion Price: MYR 0.2500
Revised Exercise/Strike/Conversion Price: MYR 0.0000
Exercise/ Conversion Ratio: 1 Warrant : 1 IRCB Share
Mode of satisfaction of Exercise/ Conversion price: Cash
Settlement Type/ Convertible into: Physical (Shares)
Remarks: The Warrants are issued for free to the subscribers of the renounceable rights issue of 355,215,720 new ordinary shares of RM0.20 each in Integrated Rubber Corporation Berhad ("IRCB") ("Rights Shares") on the basis of two (2) free detachable Warrants for every three (3) Rights Shares subscribed for.
Each Warrant carries the entitlement to subscribe for one (1) new ordinary share of RM0.20 each in IRCB at the exercise price of RM0.25 which shall be satisfied in cash at any time during the exercise period. Any Warrant not exercised during the exercise period will thereafter lapse and cease to be valid for any purpose.
This announcement is dated 23 December 2010.
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: INTEGRATED RUBBER CORPORATION BERHAD
Stock Name: IRCB
Date Announced: 23/12/2010
Announcement Detail:
Instrument Type: Warrants
Description: Free detachable new Warrants issued pursuant to the Rights Issue with Warrants
Listing Date: 24/12/2010
Issue Date: 21/12/2010
Issue/ Ask Price: MYR 0.0000
Issue Size Indicator: Unit
Issue Size in Unit: 236,810,480
Maturity Date: 18/12/2015
Exercise/ Conversion Period: 5.00 Year(s)
Exercise/Strike/Conversion Price: MYR 0.2500
Revised Exercise/Strike/Conversion Price: MYR 0.0000
Exercise/ Conversion Ratio: 1 Warrant : 1 IRCB Share
Mode of satisfaction of Exercise/ Conversion price: Cash
Settlement Type/ Convertible into: Physical (Shares)
Remarks: The Warrants are issued for free to the subscribers of the renounceable rights issue of 355,215,720 new ordinary shares of RM0.20 each in Integrated Rubber Corporation Berhad ("IRCB") ("Rights Shares") on the basis of two (2) free detachable Warrants for every three (3) Rights Shares subscribed for.
Each Warrant carries the entitlement to subscribe for one (1) new ordinary share of RM0.20 each in IRCB at the exercise price of RM0.25 which shall be satisfied in cash at any time during the exercise period. Any Warrant not exercised during the exercise period will thereafter lapse and cease to be valid for any purpose.
This announcement is dated 23 December 2010.
OLYMPIA - General Announcement
Announcement Type: General Announcement
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 23/12/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NM-101222-56524
Subject: Olympia Industries Berhad ("OIB" or "the Company")
- Disposal of all fourteen (14) pieces of freehold land comprised under Lot Nos 1160 to Lot 1173, Geran Nos. 31854, 31855, 31950 to 31953, 31959 to 31964, 31966 and 31967 respectively in the Mukim of Padang Temu, District of Melaka Tengah, Melaka measuring in total of approximately 53.4550 acres ("the said Lands") by City Land Sdn Bhd, a wholly owned subsidiary of OIB
Contents: Further to our announcement dated 21 December 2010 and Bursa Malaysia Securities Berhad's letter dated 22 December 2010, we would like to furnish the additional information as set out in the attachment below.
Query Letter content: We refer to your announcement dated 21 December 2010 in respect of the above
matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
1. Justification for the disposal consideration, viz-a-viz the market value
of the Lands.
2. The net book value of the said Lands based on OIB's latest audited accounts.
3. The salient features of the valuation report and date of valuation.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
TYE/NMA c.c:- Head, Market Surveillance Department, Market Supervision
Division, Securities Commission (via fax)
Attachments: Reply to Bursa.pdf
Company Name: OLYMPIA INDUSTRIES BERHAD
Stock Name: OLYMPIA
Date Announced: 23/12/2010
Announcement Detail:
Type: Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID: NM-101222-56524
Subject: Olympia Industries Berhad ("OIB" or "the Company")
- Disposal of all fourteen (14) pieces of freehold land comprised under Lot Nos 1160 to Lot 1173, Geran Nos. 31854, 31855, 31950 to 31953, 31959 to 31964, 31966 and 31967 respectively in the Mukim of Padang Temu, District of Melaka Tengah, Melaka measuring in total of approximately 53.4550 acres ("the said Lands") by City Land Sdn Bhd, a wholly owned subsidiary of OIB
Contents: Further to our announcement dated 21 December 2010 and Bursa Malaysia Securities Berhad's letter dated 22 December 2010, we would like to furnish the additional information as set out in the attachment below.
Query Letter content: We refer to your announcement dated 21 December 2010 in respect of the above
matter.
In this connection, kindly furnish Bursa Malaysia Securities Berhad ("Bursa
Securities") with the following additional information for public release:-
1. Justification for the disposal consideration, viz-a-viz the market value
of the Lands.
2. The net book value of the said Lands based on OIB's latest audited accounts.
3. The salient features of the valuation report and date of valuation.
Please furnish Bursa Securities with your reply within one (1) market day from
the date hereof.
Yours faithfully
TAN YEW ENG
Head, Issuers
Listing Division
Regulation
TYE/NMA c.c:- Head, Market Surveillance Department, Market Supervision
Division, Securities Commission (via fax)
Attachments: Reply to Bursa.pdf
BJCORP - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: BERJAYA CORPORATION BERHAD
Stock Name: BJCORP
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: BERJAYA CORPORATION BERHAD ("BCORPORATION" OR "COMPANY")
PROPOSED LISTING OF BERJAYA ROASTERS (M) SDN BHD VIA BERJAYA FOOD BERHAD ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("PROPOSED LISTING")
Contents: -
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: BERJAYA CORPORATION BERHAD
Stock Name: BJCORP
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: BERJAYA CORPORATION BERHAD ("BCORPORATION" OR "COMPANY")
PROPOSED LISTING OF BERJAYA ROASTERS (M) SDN BHD VIA BERJAYA FOOD BERHAD ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("PROPOSED LISTING")
Contents: -
E&O - Listing Circular
Announcement Type: Listing Circular
Company Name: EASTERN & ORIENTAL BERHAD
Stock Name: E&O
Date Announced: 23/12/2010
Announcement Detail:
Subject: E&O-CONVERSION OF 30,000 IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS 2006/2011 INTO 30,000 NEW ORDINARY STOCK UNITS ("CONVERSION")
Contents: Kindly be advised that the abovementioned Company's additional 30,000 new ordinary stock units of RM1.00 each arising from the aforesaid Conversion will be granted listing and quotation with effect from 9.00 a.m., Monday, 27 December 2010.
Company Name: EASTERN & ORIENTAL BERHAD
Stock Name: E&O
Date Announced: 23/12/2010
Announcement Detail:
Subject: E&O-CONVERSION OF 30,000 IRREDEEMABLE CONVERTIBLE UNSECURED LOAN STOCKS 2006/2011 INTO 30,000 NEW ORDINARY STOCK UNITS ("CONVERSION")
Contents: Kindly be advised that the abovementioned Company's additional 30,000 new ordinary stock units of RM1.00 each arising from the aforesaid Conversion will be granted listing and quotation with effect from 9.00 a.m., Monday, 27 December 2010.
SIME - General Announcement
Announcement Type: General Announcement
Company Name: SIME DARBY BERHAD
Stock Name: SIME
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: Material Litigation - Civil Suit in the High Court of Malaya at Kuala Lumpur against Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid, Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail, Abdul Kadir Alias and Mohd. Zaki bin Othman - Suit No.: D-22-NCC-2379-2010
Contents: Sime Darby Berhad ("Sime Darby" or "the Company") wishes to announce the filing of a civil suit in the High Court of Malaya at Kuala Lumpur on 23 December 2010 against Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid, Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail, Abdul Kadir Alias and Mohd. Zaki bin Othman (together, "Defendants") in connection with the Qatar Petroleum Project ("QP Project"), the Maersk Oil Qatar Project ("MOQ Project") and the project relating to the construction of marine vessels known as the "Marine Project". Steps will be taken to serve the Writ of Summons and Statement of Claim upon the Defendants as soon as the sealed copies of the Writ of Summons and Statement of Claim are extracted from the Registry of the High Court.
The Plaintiffs' claim is set out and particularised in the Statement of Claim dated the 23 December 2010 and seeks the following relief:-
(I) An Order that each of the Defendants make restitution in the sum of RM80,510,755.00, wrongly paid to consultants in the QP Project;
(II) An Order that damages be assessed for all losses caused by the Defendants and suffered by the Plaintiffs in the QP Project to be paid by each of the Defendants;
(III) An Order that Abdul Kadir Alias and Mohd. Zaki bin Othman make restitution in the sum of RM6.6 million wrongly waived with respect to the provision by RNZ Integrated (M) Sdn Bhd ("RNZ") of the Performance Bond in the MOQ Project;
(IV) An Order that Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail and Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid make restitution in the sum of RM6,210,000.00, being the retention sum wrongly released to RNZ in the MOQ Project;
(V) An Order that damages be assessed for all losses caused by the Defendants and suffered by the Plaintiffs in the MOQ Project, to be paid by each of the Defendants;
(VI) An Order that each of the Defendants make restitution in the sum of USD$30,808,000.00 being consultancy fees wrongly paid in the MOQ Project;
(VII) An Order that Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid and Dato' Mohamad Shukri bin Baharom make restitution in the sum of USD48,000,000.00, being the losses suffered as a result of the total failure to deliver the 3 marine vessels in Project Marine;
(VIII) An Order that compensation be assessed with respect to the loss of profit suffered by the Plaintiffs by reason of the failure to deliver the 3 marine vessels in time, and that each of the Defendants be ordered to pay it;
(IX) An Order that damages be assessed for all losses suffered by the Plaintiffs in the 3 projects by reason of the actions and omissions of each of the Defendants, and an Order that such payment be made;
(X) Aggravated or exemplary damages to be paid by each of the Defendants;
(XI) Alternatively, an Order that damages be assessed on the basis that each of the Defendants acted in breach of trust and/or fiduciary duty, and an Order that such payment be made;
(XII) Interest on all sums ordered to be paid from such period and for such rate as the Court deems fit;
(XIII) Costs; and
(XIV) Further or other relief.
The civil suit is filed against the Defendants following breaches of duties owed to Sime Darby and the subsidiaries named in the civil suit.
The civil suit will have no operational impact on the Sime Darby Group. As for the financial impact, the losses arising from the 3 projects have been provided for. There are no losses that could arise from these proceedings except an order for payment of costs if Sime Darby or its subsidiaries were unsuccessful in this action or if the Defendants include a counterclaim which was allowed by the Court.
The Statement of Claim is attached to this announcement.
This announcement is dated 23 December 2010.
Attachments: Statement of Claim - Part 2 of 2.pdf
Statement of Claim - Part 1 of 2.pdf
Company Name: SIME DARBY BERHAD
Stock Name: SIME
Date Announced: 23/12/2010
Announcement Detail:
Type: Announcement
Subject: Material Litigation - Civil Suit in the High Court of Malaya at Kuala Lumpur against Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid, Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail, Abdul Kadir Alias and Mohd. Zaki bin Othman - Suit No.: D-22-NCC-2379-2010
Contents: Sime Darby Berhad ("Sime Darby" or "the Company") wishes to announce the filing of a civil suit in the High Court of Malaya at Kuala Lumpur on 23 December 2010 against Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid, Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail, Abdul Kadir Alias and Mohd. Zaki bin Othman (together, "Defendants") in connection with the Qatar Petroleum Project ("QP Project"), the Maersk Oil Qatar Project ("MOQ Project") and the project relating to the construction of marine vessels known as the "Marine Project". Steps will be taken to serve the Writ of Summons and Statement of Claim upon the Defendants as soon as the sealed copies of the Writ of Summons and Statement of Claim are extracted from the Registry of the High Court.
The Plaintiffs' claim is set out and particularised in the Statement of Claim dated the 23 December 2010 and seeks the following relief:-
(I) An Order that each of the Defendants make restitution in the sum of RM80,510,755.00, wrongly paid to consultants in the QP Project;
(II) An Order that damages be assessed for all losses caused by the Defendants and suffered by the Plaintiffs in the QP Project to be paid by each of the Defendants;
(III) An Order that Abdul Kadir Alias and Mohd. Zaki bin Othman make restitution in the sum of RM6.6 million wrongly waived with respect to the provision by RNZ Integrated (M) Sdn Bhd ("RNZ") of the Performance Bond in the MOQ Project;
(IV) An Order that Dato' Mohamad Shukri bin Baharom, Abdul Rahim bin Ismail and Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid make restitution in the sum of RM6,210,000.00, being the retention sum wrongly released to RNZ in the MOQ Project;
(V) An Order that damages be assessed for all losses caused by the Defendants and suffered by the Plaintiffs in the MOQ Project, to be paid by each of the Defendants;
(VI) An Order that each of the Defendants make restitution in the sum of USD$30,808,000.00 being consultancy fees wrongly paid in the MOQ Project;
(VII) An Order that Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid and Dato' Mohamad Shukri bin Baharom make restitution in the sum of USD48,000,000.00, being the losses suffered as a result of the total failure to deliver the 3 marine vessels in Project Marine;
(VIII) An Order that compensation be assessed with respect to the loss of profit suffered by the Plaintiffs by reason of the failure to deliver the 3 marine vessels in time, and that each of the Defendants be ordered to pay it;
(IX) An Order that damages be assessed for all losses suffered by the Plaintiffs in the 3 projects by reason of the actions and omissions of each of the Defendants, and an Order that such payment be made;
(X) Aggravated or exemplary damages to be paid by each of the Defendants;
(XI) Alternatively, an Order that damages be assessed on the basis that each of the Defendants acted in breach of trust and/or fiduciary duty, and an Order that such payment be made;
(XII) Interest on all sums ordered to be paid from such period and for such rate as the Court deems fit;
(XIII) Costs; and
(XIV) Further or other relief.
The civil suit is filed against the Defendants following breaches of duties owed to Sime Darby and the subsidiaries named in the civil suit.
The civil suit will have no operational impact on the Sime Darby Group. As for the financial impact, the losses arising from the 3 projects have been provided for. There are no losses that could arise from these proceedings except an order for payment of costs if Sime Darby or its subsidiaries were unsuccessful in this action or if the Defendants include a counterclaim which was allowed by the Court.
The Statement of Claim is attached to this announcement.
This announcement is dated 23 December 2010.
Attachments: Statement of Claim - Part 2 of 2.pdf
Statement of Claim - Part 1 of 2.pdf
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