Material Litigation

We refer to our announcements on 18 October 2018, 19 October 2018, 17 July 2020, 29 March 2021, 1 July 2021, 8 October 2021 and 25 November 2021 in relation to the litigation involving Boustead Holdings Berhad (“BHB”) and its wholly owned subsidiary Bakti Wira Development Sdn Bhd (“Bakti Wira”).

To recapitulate, BHB and Bakti Wira were on 16 October 2018 and 18 October 2018 respectively served with a Writ of Summons and Statement of Claim by one Deepak Jaikishan A/L Jaikishan Rewachand (“Plaintiff”). BHB was named the Third Defendant and Bakti Wira the Fourth Defendant in the Writ of Summons and Statement of Claim. BHB and Bakti Wira jointly filed an application on 17 December 2018 to strike out the Writ of Summons and Statement of Claim. The High Court at Kuala Lumpur allowed BHB and Bakti Wira’s striking out application on 17 July 2020. The Plaintiff’s appeal to the Court of Appeal against the decision of the High Court was heard and dismissed by the Court of Appeal on 8 October 2021.

The Plaintiff filed an application to the Federal Court on 3 November 2021 for leave to appeal against the Court of Appeal’s 8 October 2021. This Federal Court leave application was registered as Civil Application No. 08(i)-538-11/2021(W). BHB and Bakti Wira were named as the Third and Fourth Respondents respectively in the said leave application. The hearing of this leave application was fixed on 27 May 2022.

The Company wishes to inform that on 27 May 2022, the Federal Court heard the Plaintiff’s leave application in Civil Application No. 08(i)-538-11/2021(W) and dismissed the said application with costs of RM30,000.00 to be paid by the Plaintiff to BHB and Bakti Wira.

This announcement is dated 30 May 2022.