Bursa
Announcements

The Board of Directors of Ekovest Berhad (“the Company”) wishes to announce that Ekovest Construction Sdn Bhd (“ECSB”), a wholly-owned subsidiary of the Company, was served on 7 October 2019 by the solicitors of Samling Resources Sdn Bhd (“Samling” or “Defendant”) with a Statement of Claim of the Defendant against the Third Party (“Third Party Proceeding”).

The Defendant is claiming that in the event it is held liable to Greenland Knusford Construction Sdn Bhd (“Plaintiff”) pursuant to the legal proceeding commenced by the Plaintiff for loss and damage arising from alleged fraudulent and/or negligent representations and/or misstatements and alleged wrongful termination of the Plaintiff’s employment of the Defendant (“Primary Proceeding”), then the Defendant is entitled to claim in this Third Party Proceeding against ECSB, to declarations, costs incurred by the Defendant in defending the Primary Proceeding, costs of the Third Party Proceedings, interests, and to be indemnified by and/or to seek contribution from ECSB in respect of the Plaintiff’s claim for loss and damage, interest and costs in the Primary Proceedings, and such other relief as may be awarded by the Court.

The amount of loss and damage, interest and costs pursuant to the above cannot be ascertained at this juncture.

The Company has sought the necessary legal advice on the above subject matter and is of the opinion that it has a good defence to the claim brought by the Defendant under the Third Party Proceedings.

Any updates in respect of any material development in relation to the Third Party Proceeding will be made from time to time.
 This Announcement is dated 9 October 2019.