MATERIAL LITIGATION WRIT AND STATEMENT OF CLAIM BY NEP HOLDINGS (MALAYSIA) BERHAD ("NEP"), LIM CHANG HUAT ("LCH") AND LIM CHEE KON ("LCK") (PLAINTIFFS) AGAINST V.S. INDUSTRY BERHAD ("VSIB" OR "THE COMPANY") AND DATUK BEH KIM LING ("DB")
| V.S. INDUSTRY BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | WRIT AND STATEMENT OF CLAIM BY NEP HOLDINGS (MALAYSIA) BERHAD ("NEP"), LIM CHANG HUAT ("LCH") AND LIM CHEE KON ("LCK") (PLAINTIFFS) AGAINST V.S. INDUSTRY BERHAD ("VSIB" OR "THE COMPANY") AND DATUK BEH KIM LING ("DB") |
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1. Reference is made to the Company’s earlier announcements in relation to this matter. Unless otherwise defined, all terms used herein shall have the same meanings as ascribed to them in the said announcements.
2. As previously announced, the High Court had fixed 17 December 2025 for delivery of its decision, which was subsequently vacated and rescheduled to 9 January 2026.
3. The Company wishes to announce that on 9 January 2026, the High Court found that on the totality of the evidence, LCH and LCK (the 2nd and 3rd Plaintiffs) have failed to discharge their burden of proof on balance of probabilities to establish any breach of the Shareholders’ Agreement by the Company and DB. Therefore, the High Court held that their claims are without merit and were dismissed. The High Court further awarded costs of RM80,000.00 in favour of the Company and RM70,000.00 in favour of DB, to be paid jointly and severally by LCH and LCK.
4. The Company will make further announcements should there be any material developments arising from this matter. |
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Announcement Info
| Company Name | V.S. INDUSTRY BERHAD |
| Stock Name | VS |
| Date Announced | 12 Jan 2026 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12012026-00008 |