Kuching High Court Suit No. 22-141-2010 III

BackAug 06, 2010
Date Announced
:
 06/08/2010  




Type
:
 Announcement
Subject
:
Kuching High Court Suit No. 22-141-2010 III

Contents
:
Naim Holdings Berhad (“the Company” or “Naim”) wishes to announce that the Company’s wholly owned subsidiaries, Khidmat Mantap Sdn. Bhd. (“KMSB”) has on 5 August 2010 been served with a Writ of Summons dated 23 July 2010 claiming Native Customary Rights (“NCR”) over a portion of land measuring approximately 12.141 hectares on part of Lot 533 Block 14 Muara Tuang Land District, Kuching, Sarawak .

The Plaintiffs, Ramsay Noel Jitam and Harold Loyad Jitam sued three (3) Defendants with KMSB being the First Defendant. The Second and Third Defendants are the Superintendent of Lands & Surveys, Samarahan Division and the State Government of Sarawak respectively.

KMSB is in possession of a valid document of title issued by the Second Defendant, pursuant to the provisions of the Sarawak Land Code Chapter 81. .

KMSB is a wholly-owned subsidiary of Naim Holdings Berhad and it is not a major subsidiary of the Company pursuant to paragraph 1.01 of the Listing Requirements. Total cost of investment in KMSB is RM2.00.

We do not foresee any material financial and/or operational impact on the Group as a result of the receipt of the summons as KMSB is in possession of a valid document of title. We do not expect to incur any losses arising from the summons.

The date of the hearing has yet to be fixed by the Court. KMSB is seeking advice from its solicitors and has instructed the said solicitors to take all necessary steps to vigorously defend KMSB’s interest and position.


Dated 6th August 2010

Announcement Details :