R&A Telecommunication Group Bhd
+603 55691801 +603 55695730

Company Name

R&A TELECOMMUNICATION GROUP BERHAD

Stock Name

RA

Date Announced

22 Dec 2015

Category

General Announcement for PLC

Reference Number

GA1-22122015-00037

MATERIAL LITIGATION R&A TELECOMMUNICATION GROUP BERHAD ("R&A" OR "THE COMPANY") - SHAH ALAM SESSION COURT SUMMONS NO. A52NCC-339-12/2015: WRIT OF SUMMONS TOGETHER WITH STATEMENT OF CLAIM FILED BY TECSYS PRODUCT SDN. BHD. ("TECSYS") (PLAINTIFF), AGAINST R&A TELECOMMUNICATION SDN. BHD. ("RASB") A WHOLLY OWNED SUBSIDIARY OF R&A ("DEFENDANT")

Type

Announcement

Subject

MATERIAL LITIGATION

Description

R&A TELECOMMUNICATION GROUP BERHAD ("R&A" OR "THE COMPANY")

- SHAH ALAM SESSION COURT SUMMONS NO. A52NCC-339-12/2015: WRIT OF SUMMONS TOGETHER WITH STATEMENT OF CLAIM FILED BY TECSYS PRODUCT SDN. BHD. ("TECSYS") (PLAINTIFF), AGAINST R&A TELECOMMUNICATION SDN. BHD. ("RASB") A WHOLLY OWNED SUBSIDIARY OF R&A ("DEFENDANT")

The Board of Directors of R&A wishes to inform that RASB, a wholly-owned subsidiary of R&A, had on 21 December 2015 been served a Writ of Summons and Statement of Claim by Tecsys.

1. The date of the presentation of the Writ of Summons and Statement of Claim and the date of the Writ and Statement of Claim was served on the listed issuer and its subsidiary.

The Writ of Summons and the Statement of Claim are dated 9 December 2015. Both were served on RASB vide Messrs. Siva, Thurai, Mariany & Co., being the solicitors for the Plaintiff on 18 December 2015.

2. The particulars of the claim under the Writ of Summons and Statement of Claim, including the amount claimed for and the interest rate.

The claim pursuant to the Writ of Summons and Statement of Claim are as below:-

(a) The sum of RM93,370.00;

(b) Late payment interest of RM 7,432.05 on the amount of RM93,370.00 at a rate of 1.5% per month from 14 July 2014 to 31 August 2015 until the date of full payment;

(c) Cost of action; and

(d) Such other reliefs as they may deem fit.

3. The details of the default or circumstances leading to the filing of the Writ of Summons and Statement of Claim on the listed issuer and its subsidiary.

The filing of the Writ of Summons and Statement of Claim is a result of RASB failing to settle the outstanding amount of RM93,370.00 being the outstanding amount for goods sold.

4. Whether RASB is a major subsidiary of R&A.

RASB is a major subsidiary of R&A.

5. The financial and operational impact of the Writ of Summons and Statement of Claim on the Group.

The financial and operational impact of the Writ of Summons and Statement of Claim on the Group is limited to RM100,802.05, being the amount claimed for and the interest rate as per the Writ of Summons and Statement of Claim.

6. The expected losses, if any, arising from the Writ of Summons and Statement of Claim.

The expected losses, if any, arising from the Writ of Summons and Statement of Claim does not have a profit and loss impact but it will impact on the Company’s cash position.

7. The steps taken and proposed to be taken by RASB in respect of the Writ of Summons and Statement of Claim.

R&A is expected to address this issue via regularisation plan. Once the regularisation plan is finalised, a settlement proposed is to be put forward to our creditors.

Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

This announcement is dated 22 December 2015.

GROWTH

R&A is aggressively expanding not only in the local Malaysian market.....
More

DIVERSIFY

R&A’s diversification & expansion.....

More

CLIENT

R&A has a solid background and reputation with Operators and MNC vendors.....
More