KUALA LUMPUR (March 6): Sunway Construction Group Bhd’s unit Sunway Geotechnics (M) Sdn Bhd has launched a lawsuit against Ikhmas Jaya Group Bhd’s wholly-owned subsidiary Ikhmas Jaya Sdn Bhd, seeking RM8.2 million over unpaid work.
In a filing with Bursa Malaysia yesterday, Ikhmas Jaya said Sunway Geotechnics is also seeking RM492,132.34 for service tax under the subcontract; pre-decision interest of RM104,493.85; party and party costs of this claim of RM45,000; and legal cost of RM61,289.
The matter is fixed for case management on March 26.
The piling and engineering specialist said its unit and Sunway Geotechnics have met, discussed and agreed in principle for an out-of-court settlement pending finalisation of the terms and conditions of the settlement.
“Announcement on further development will be made in due course,” it said.
“The legal claim is not anticipated to have any significant financial and operational impact on the group’s results for the financial year ending Dec 31, 2019 since the amount has been accrued for in the financial statements,” added Ikhmas Jaya.
This article first appeared in The Edge Financial Daily, on March 6, 2019.