SALUTE

0.105

(%)

MATERIAL LITIGATION MATERIAL LITIGATION WRIT OF SUMMONS AND STATEMENT OF CLAIM FILED AGAINST PARADIGM METAL INDUSTRIES SDN. BHD. ("PMI" OR "DEFENDAN") BY SALUTICA ALLIED SOLUTIONS SDN. BHD. ("SAS" OR "PLAINTIFF"), A WHOLLY-OWNED SUBSIDIARY OF SALUTICA BERHAD ("SALUTICA" OR THE "COMPANY") PENANG HIGH COURT SUIT NO:PA-22NCvC-130-08/2023

SALUTICA BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description 
MATERIAL LITIGATION WRIT OF SUMMONS AND STATEMENT OF CLAIM FILED AGAINST PARADIGM METAL INDUSTRIES SDN. BHD. ("PMI" OR "DEFENDAN") BY SALUTICA ALLIED SOLUTIONS SDN. BHD. ("SAS" OR "PLAINTIFF"), A WHOLLY-OWNED SUBSIDIARY OF SALUTICA BERHAD ("SALUTICA" OR THE "COMPANY") PENANG HIGH COURT SUIT NO:PA-22NCvC-130-08/2023

We refer to the Company's announcements dated 11 August 2023, 19 September 2023, 19 October 2023, 8 November 2023, 30 May 2024 and 5 March 2025. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcement.

 

On 24 September 2026, SAS has received the final award decision from the arbitration tribunal for a sum of RM1,955,285.76 payable by PMI to SAS with breakdown as follows:

  1. RM1,406,355.76 within 14 days from 24 September 2026;
  2. Interest RM209,217.90 calculated at the rate of 5% per annum on the RM1,406,355.76 from 5 October 2023 until 24 September 2026; and
  3. RM339,712.10 as costs.

This announcement is dated 24 September 2026.



Announcement Info

Company Name SALUTICA BERHAD
Stock Name SALUTE
Date Announced 24 Sep 2026
Category General Announcement for PLC
Reference Number GA1-24092026-00033


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