The Board of Directors of the Company ("Board") wishes to announce that its wholly-owned subsidiary, Comfort Rubber Gloves Industries Sdn Bhd ("CRG") had been served with a Writ of Summons by Taiko Marketing Sdn Bhd ("the Plaintiff") on 13 September 2013 and that this case has been fixed for case management on 20 September 2013. The Writ of Summons arose from the default in payment ("the Claim") for the goods sold and delivered by the Plaintiff.
The particulars of the Claim under the Writ of Summons are as follows:
a) the sum of RM250,943.00 due and owing for the goods sold and delivered;
b) the sum of RM24,595.00 being the interest on the amount due and owing as at 31 July 2013;
c) Interest claimed at the rate of 2% per month on the sum of RM250,943.00 from 1 August 2013 till date of completion;
d) Cost; and
e) Other reliefs deem fit by the court.
CRG is a major subsidiary of the Company. The total cost of investment in CRG would be RM1.00 should it be successfully made against CRG as the Company has made a provision for impairment in its investment in CRG. The expected losses arising from the Claim, should it be successfully made against CRG will be up to the Sum of Claim and the costs. There will not be a significant impact on the financial and operation of IRCB Group.
The Company had engaged lawyers to look into the case.
This amended announcement is dated 18 September 2013 and supercedes the previous announcement dated 17 September 2013.
UNCONDITIONAL MANDATORY TAKE-OVER OFFER FROM **** INVESTMENT BANK BERHAD ON BEHALF OF TAN SRI ******* TO ACQUIRE ALL THE REMAINING ORDINARY SHARES OF RM0.20 EACH IN INTEGRATED RUBBER CORPORATION BERHAD ("IRCB") NOT ALREADY HELD BY THE OFFEROR AND THE PERSONS ACTING IN CONCERT WITH THEM ("PACs") ("OFFER SHARE(S)") FOR A CASH CONSIDERATION OF RM1.XX PER OFFER SHARE ("OFFER")......
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tjhldg
27,218 posts
Posted by tjhldg > 2013-09-18 16:40 | Report Abuse
ya loh ,, what to do ,, start buying since 28 cts , till now never let me down .. :)