Material Litigation

We refer to our announcements on 30 May 2022 in relation to the litigation involving Boustead Holdings Berhad (“BHB”) and its subsidiary Bakti Wira Development Sdn Bhd (“Bakti Wira”).

To recapitulate, Deepak Jaikishan A/L Jaikishan Rewachand (“Applicant”) filed, among others, an application to the Federal Court on 3 November 2021 for leave to appeal against a Court of Appeal’s decision delivered on 8 October 2021. This leave application was dismissed by the Federal Court on 27 May 2022 with costs to be paid by the Applicant to BHB and Bakti Wira.

The Applicant had on 3 June 2022, filed an application to the Federal Court (“Review Application”) seeking a review of the abovementioned Federal Court’s decision. This Review Application was registered as Review Application No. 08(R)-11-06/2022(W).

The Company wishes to inform that on 6 October 2022, the Federal Court heard the Applicant’s Review Application and the Federal Court dismissed the Applicant’s Review Application and awarded costs of RM25,000.00 collectively to be paid by the Applicant to BHB and Bakti Wira.

This announcement is dated 7 October 2022.