Further to the announcement on 31 January 2013, FCB wishes to announce that the Company has on 2 July 2013 received RM275,000.00 as full and final settlement of the claim against SGL Carbon Sdn Bhd. (SGL). Although the solicitors of Fronken Pertroleum Sdn. Bhd. (FPSB) were of the opinion that SGL does not have a valid claim for set-off against the revised outstanding sum of RM1,541,807.20 and FPSB has a good chance of successfully recovering the same from SGL and that SGL does not have a valid counterclaim against FPSB, it is not foolproof that FPSB could win the case nor SGL could succeed in their special damages claim and LAD claims, as all these are subject to the Court's decision dependent on the many factors. Therefore in consideration of the proposal from SGL for full and final settlement of RM275,000 and the other factors above and the time, costs, based on commercial ground and on the advice and recommendation of its lawyers, the Board has agreed to accept the sum of RM275,000 as full and final settlement of the abovesaid case and sign a Certificate of Discontinuance. This announcement is dated 3 July 2013.
Well done! Today might see some up on this counter!
Frontken had secured a RM111mil job to be the main contractor for engineering, procurement, construction and commissioning works for terminal and jetty facilities in Tanjung Bin, Johor.( the star online)
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Tiago Gt
408 posts
Posted by Tiago Gt > 2013-05-24 10:26 | Report Abuse
Finally.....someone notice pmijd like i do...