News

Kejuruteraan Asastera Berhad would like to announce that KAB Technologies Sdn Bhd, its wholly-owned subsidiary (“KABT / Plaintiff”), has on 26 June 2020 commenced a Writ action against ICEE International Sdn Bhd (the “1st Defendant”) and ICEE Energy Services Sdn Bhd (the “2nd Defendant”) before the High Court of Malaya at Kuala Lumpur under Civil Suit No.: WA-22NCVC-330-06/2020. 

The claim against the 2nd Defendant is premised on a Work Order dated 01.04.2019 (“Work Order”) entered between KABT on the one part and the 2nd Defendant on the other part wherein the 2nd Defendant is required by contract to ensure that KABT receives its annual guaranteed savings of 8% which corresponds with an amount of monetary return of RM8,329.72 per month for a period of five (5) years i.e. 60 months. KABT alleges that the 2nd Defendant has breached the material terms of the Work Order causing KABT to have suffered and continue to suffer loss and damage in so far as the Pullman Hotel, Kuching project is concerned.

KABT’s claim against the 2nd Defendant is for amongst others a declaration that the 2nd Defendant has breached the express and/or implied terms of the Work Order, the outstanding shortfalls under the Work Order in the sum of RM12,418.20, general damages, special damages in the sum of RM813,709.19, interest and costs.

The claim against the 1st Defendant is premised on an Agreement dated 07.08.2019 (“2019 Agreement”) entered between KABT on the one part and the 1st Defendant on the other part wherein the 1st Defendant is required by contract to ensure that KABT receives its guaranteed savings of 10% which corresponds with an amount of monetary return of RM6,6680.40 and RM6,958.75 for a period of forty-eight (48) months, respectively in respect of the projects at Robinson Rama 9 and Robinson Prachinburi in Thailand. KABT alleges that the 1st Defendant has breached the material terms of the 2019 Agreement causing KABT to have suffered and continue to suffer loss and damage.

KABT’s claim against the 1st Defendant is for amongst others a declaration that the 1st Defendant has breached the express and/or implied terms of the 2019 Agreement, the outstanding shortfalls under the 2019 Agreement totalling a sum of RM15,132.98, general damages, special damages totalling a sum of RM1,431,099.49, interest and costs.

The proceedings are not expected to have any material impact on the earnings, net assets or gearing of KAB for the financial year ending 31 December 2020.

None of the Directors or substantial shareholdes of KAB or persons connected to them has any interest, direct or indirect in the aforesaid proceedings. 

KAB will make further announcement(s) as and when there are any material developments in relation to the above matter.

The announcement is dated 13 July 2020.