News

Material Litigation

Kejuruteraan Asastera Berhad (“KAB”) wishes to announce that KAB had on 10 July 2020 received a copy of the Defendants’ Amended Defence And Counterclaim (“Counterclaim”) in the Suit. The Defendants are ICEE, Prabodh and ICEE Energy.

The particulars of the Suit and the Counterclaim are as follows:-

1. On 28 May 2020, KABT (KAB’s wholly-owned subsidiary) and our managing director, Dato’ Lai filed the Suit against the Defendants for declarations that they are not liable for using ICEE’s business information on KABT’s website for a limited period of time, because the Defendants had consented to the use of ICEE’s business information. KABT commenced the Suit in the abundance of caution and to safeguard KABT’s rights. Hence the declaratory judgement was sought in the Suit.
2. KAB is not a party to the main action in the Suit. KAB has since been named as a party to the Suit by the Defendants, through their Counterclaim.  
3. The Defendants’ Counterclaim appears to be premised on a claim for passing off, breach of confidential information, breach of fiduciary duty, the abuse of process and conspiracy to injure. The Defendants are asking for monetary damages totalling RM17,827,777.01.
4. KAB has since appointed solicitors and intends to defend the claims made against it, which is unmeritorious, by filing the appropriate application to summarily strike out the Counterclaim and to have KAB removed as a party in the Counterclaim. KAB view the monetary sum claimed as being speculative and without credible basis. KAB also views the Counterclaim as being scandalous, frivolous and vexatious. It would appear that ICEE and ICEE Energy have improperly added KAB as a party to their Counterclaim.
5. KAB does not expect the Counterclaim to have any material impact on its operations and/or financial standing.
6. KAB wishes to disclose that its managing director, Dato’ Lai is one of the Plaintiffs in the Suit. Dato’ Lai has an interest in the Suit and the Counterclaim.
7. Further announcements, should there be material developments arising from the Suit and the Counterclaim will be made to Bursa Malaysia Securities Berhad.

The announcement is dated 13 July 2020.