Latest news with #RM19.72
Borneo Post
24-04-2025
- Business
- Borneo Post
SCIB clarifies lawsuit against Awana JV Suria Saga not entirely withdrawn
Ku Chong Hong KUCHING (April 24): Sarawak Consolidated Industries Berhad (SCIB) clarified today that it has not entirely withdrawn its lawsuit against Awana JV Suria Saga Sdn Bhd (Awana). The industrialised building systems specialist said the legal reliefs previously sought under a separate suit have been consolidated into a broader legal action (the main suit). 'The amended statement of claim, filed on April 18, integrates the RM19.72 million recovery claim into the main suit to streamline proceedings and facilitate a more efficient litigation process,' SCIB said in a statement. The statement was issued in response to a media report yesterday concerning the discontinuation of the legal suit involving its wholly-owned subsidiary SCIB Properties Sdn Bhd (SCIBP) and Awana. SCIB affirmed that the discontinuation of the separate action does not reflect a withdrawal or abandonment of its claim. The company said it represents a strategic legal approach to pursue the matter more effectively under a single consolidated suit. 'We would like to assure our shareholders and stakeholders that SCIB remains fully committed to recovering the RM19.72 million from Awana,' said SCIB managing director Ku Chong Hong. He said the consolidation of claims into a single legal action is a procedural refinement that enables SCIB to pursue its rights more efficiently and with greater legal clarity. 'There has been no compromise to the substance or seriousness of our position. We will continue to act in the best interest of the company and ensure transparency throughout this process,' he said. The statement said SCIB pledged to remain committed to upholding its legal rights and continue to act in the best interests of the company and its shareholders. 'The board assures that it will provide timely updates on any material developments related to this matter,' added the statement.
New Straits Times
23-04-2025
- Business
- New Straits Times
SCIB unit not fully withdrawn Awana lawsuit
KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) has clarified that its wholly-owned SCIB Properties Sdn Bhd has not fully withdrawn its lawsuit against Awana JV Suria Saga Sdn Bhd (Awana). Instead, the company explained that legal reliefs previously sought under a separate suit had been consolidated into a broader legal action, now referred to as the main suit. "The amended statement of claim, filed on April 18, 2025, integrates the RM19.72 million recovery claim into the main suit to streamline proceedings and facilitate a more efficient litigation process. "SCIB affirms that the discontinuation of the separate action does not reflect a withdrawal or abandonment of the company's claim. "Rather, it represents a strategic legal approach to pursue the matter more effectively under a single consolidated suit," it said in a statement. This is contrary to the impression conveyed in a media report on April 23. The company assures its shareholders and stakeholders that it remains fully committed to recovering the RM19.72 million from Awana. Its managing director Ku Chong Hong said the consolidation of claims into a single legal action is a procedural refinement that enables SCIB to pursue its rights more efficiently and with greater legal clarity. "There has been no compromise to the substance or seriousness of our position. We will continue to act in the best interest of the company and ensure transparency throughout this process," he added.
