News

Material Litigation

Back11 Mar 2022
Type Announcement
Subject MATERIAL LITIGATION
Description QL RESOURCES BERHAD ("QLR" OR "THE COMPANY") MATERIAL LITIGATION INVOLVING PT PIPIT MUTIARA INDAH ("PMI" OR "1ST DEFENDANT"), CHIA SEONG FATT ("2ND DEFENDANT"), AND QL MUTIARA (S) PTE LTD ("QLM" OR "3RD DEFENDANT") (COLLECTIVELY REFERRED TO AS "DEFENDANTS")

 

Reference is made to the Company’s announcements made on 16 August 2021, 17 August 2021, 23 August 2021, 21 October 2021 and 28 October 2021.

 

The Company wishes to announce that the Plaintiff, PT Pipit Citra Perkasa, has on 10 March 2022 submitted an application to the Tarakan Court, seeking for the following decrees:

 

(a) the withdrawal and annulment of the lawsuit filed by the Plaintiff against the Defendants at the Tarakan Court;

 

(b) the revocation and annulment of the Court Attachment Order dated 25 October 2021 against the assets of the PMI and QLM as follows:

  1. Part of the plantation land according to the Cultivation Right Certificates (Hak Guna Usaha) registered in the name of PMI;
  2. The entire 95% shares in PMI owned by QLM.

The Tarakan Court has received the aforesaid application of the Plaintiff and has informed the respective counsels of the Plaintiff and Defendants that the aforesaid decrees are expected to be officially issued on 24 March 2022.

 

Further announcements will be made on any material development.

 

This announcement is dated 11 March 2022.


Announcement Info

Company Name QL RESOURCES BERHAD
Stock Name QL
Date Announced 11 Mar 2022
Category General Announcement for PLC
Reference Number GA1-11032022-00029