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WRIT AND STATEMENT OF CLAIM

MCLEAN TECHNOLOGIES BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-02112016-00002
Subject WRIT AND STATEMENT OF CLAIM
Description
JOHOR BAHRU HIGH COURT SUIT NO. JA-22NCVC-204-10/2016: PETRONAS GAS BERHAD (PLAINTIFF) VS. DWZ INDUSTRIES (JOHOR) SDN. BHD. AND DWZ INDUSTRIES SDN.  BHD. (DEFENDANTS) (HEREIN REFERRED TO AS THE CIVIL ACTION)
Query Letter Contents

We refer to your Company’s announcement dated 1 November 2016, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1.            The interest rate on the amount demanded for losses and damages in the sum of RM6,634,305.40.

2.            A confirmation as to whether DWZ Entities are major subsidiaries of Mclean Technologies Berhad.

3.            The operational impact of the Writ and Statement of Claim on the Group.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

 

 

 

TAN YEW ENG
Vice President, Issuers
Listing Division, Regulation

TYE/NZ

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Reference is made to the announcement dated 1 November 2016 in relation to the Writ and Statements of Claim served by Petronas Gas Berhad (“PGB”) in respect of the Civil Action.

The Board of Directors of MClean Technologies Berhad wishes to respond in the same order as enumerated in Bursa Securities' letter as follows:-

1.     The interest on the amount demanded for losses and damages in the sum of RM6,634,305.40 from the date the sum is due until judgment has been claimed in the Statement of       Claim. However, the rate of interest claimed has not been stated. The Company is advised by the legal advisors that the applicable rate of interest though not stated will likely be claimed on the rate of judgment interest, which by the Rules of Court is 5% per annum. Post-Judgment Interest on the said sum is claimed at the rate of 5% per annum.

2.     We confirm the following:-

       a)     DWZ Industries (Johor) Sdn. Bhd. is not a major subsidiary of the Group.

       b)     DWZ Industries Sdn. Bhd. is a major subsidiary of the Group.

3.     There is no operational impact of the Writ and Statement of Claim on the Group.

This announcement is dated 2 November 2016.





Announcement Info

Company Name MCLEAN TECHNOLOGIES BERHAD
Stock Name MCLEAN
Date Announced 02 Nov 2016
Category General Announcement for PLC
Reference Number GA1-02112016-00033


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