Updates on the legal cases

a) Teh Swee Neo, Lee Yong Hen and 97 other purchasers 

As announced by the Company on 21 December 2020, Teh Swee Neo, Lee Yong Hen and 97 other purchasers (&ldquo 99 Plaintiffs&rdquo ) filed a claim against CCRM Management Sdn Bhd (&ldquo CCRM&rdquo ) as lessee and the Company&rsquo s subsidiary, CCP, as the developer. On 19 March 2023, the High Court judge adjudged that the 99 Plaintiffs had proven their claims and that CCRM and CCP were jointly and severally liable towards the 99 Plaintiffs&rsquo claims. On 12 April 2023, CCP filed an appeal with the Court of Appeal. The estimated claim in relation to this case was RM10 million.

CCP&rsquo s appeal before the Court of Appeal was heard on 7 January 2025. After hearing arguments, the Court of Appeal allowed CCP&rsquo s appeal and proceeded to set aside the High Court judgement against CCP. In the circumstances,  CCP has no liability towards the 99 Plaintiffs.

b) Anna Ling and 124 other purchasers

As announced by the Company on 15 October 2024, the Company&rsquo s subsidiary, CCP, received an incomplete Writ and Statement of Claim from Anna Ling and other purchasers claiming for RM30,619,022.76.

In December 2024, the legal advisors have re-filed the completed Writ and Statement of Claim for Anna Ling and 124 other purchasers. On 14 January 2025, CCP&rsquo s legal advisors has filed the defences for CCP.  The Court has fixed the next case management on 11 March 2025. 

c) Saravaneshwari A/P Subramaniam

  As announced by the Company on 21 November 2024, the Company&rsquo s subsidiary, CCP, received a Writ and Statement of Claim from Saravaneshwari claiming for RM75,353.  The Court has fixed the next case management on 18 February 2025.