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Reference is made to the Company's announcements made on 18 October 2022 and 15 February 2023 in relation to the lawsuit pertaining to the dispute of the writ of summon originated by JR Joint Resources Holdings Sdn. Bhd. (“JR”) with BCM Electronics Corporation Sdn. Bhd. (“BCM”), a wholly-owned subsidiary of the Company.
The Company wishes to inform that the Court of Appeal heard the appeal on 30 March 2023 and unanimously dismissed JR's appeal.
The Company also wishes to highlight that JR has already exhausted all its avenues for bringing any further action against BCM.