MATERIAL LITIGATION JOE HOLDING BERHAD (JOE OR THE COMPANY) Federal Court Civil Appeal No. 02(f)-9-02/2019(W) Appellant : Battery Solutions Sdn. Bhd. Respondent : GP Autobat Sdn. Bhd.
| JOE HOLDING BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | JOE HOLDING BERHAD (JOE OR THE COMPANY) Federal Court Civil Appeal No. 02(f)-9-02/2019(W) Appellant : Battery Solutions Sdn. Bhd. Respondent : GP Autobat Sdn. Bhd. |
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We refer to the Company’s announcements dated 25 January 2019, 23 November 2020, 16 December 2020, 4 May 2021 and 20 June 2025 respectively.
The Company wishes to provide the following additional information on the Decision for the Assessment of Damages Suit was given on 19 June 2025 where the High Court:
Although GP Autobat Sdn. Bhd. (GPA) has already made a provision of RM680,453.00 in its accounts and GPA intends to appeal the said decision and apply for a stay of execution, it is currently expected that an additional provision of RM1,282,679.65 will still be required for the assessed damages claimed by the plaintiff. For the avoidance of doubt, as an appeal against the will the filed, the sum of RM1,963,132.65 is disputed and subject to revision on appeal.
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Announcement Info
| Company Name | JOE HOLDING BERHAD |
| Stock Name | JOE |
| Date Announced | 23 Jun 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23062025-00034 |