News

Reference is made to our announcement dated 18 July 2017 pertaining to the Defence and Counter Claim served on TCM Stamping Products Sdn Bhd (“TCMSP” or “Plaintiff”), a wholly-owned subsidiary of Tan Chong Motor Holdings Berhad (“TCMH”), by Meka Automotive Industries Sdn Bhd (“MEKA” or “Defendant”). The terms used herein, unless the context otherwise states, shall bear the same meanings as those defined in the announcement afore-mentioned.

TCMH wishes to inform that during the hearing at the Kuala Lumpur High Court on 4 January 2018, the Court had been notified that MEKA had been wound up on 20 October 2017 and that TCMSP’s Solicitors had written to the Director General of Insolvency on 23 November 2017 to seek their feedback on whether they intend to proceed with MEKA’s Counterclaim against TCMSP or otherwise. However, there has been no reply as of to-date.

In light of the current prevailing facts and circumstances, TCMSP, through its solicitors, is in the midst of applying for and obtaining leave of the Court under Section 471 of the Companies Act 2016 to enable TCMSP to proceed with the hearing and disposal of the application for summary judgment against MEKA and TCMSP’s application for striking out MEKA’s defence and Counterclaim in the High Court.

The High Court has accordingly fixed another hearing date for the disposal of the aforementioned applications on 30 January 2018.

 Further announcements would be made to Bursa Malaysia Securities Berhad, should there be any material development on this matter.

This announcement is dated 8 January 2018.