Legal action against Mr. Chin Yong Keong

BackJul 31, 2023
Type Announcement
Subject OTHERS
Description

MI TECHNOVATION BERHAD ("Company")

Legal action against Mr. Chin Yong Keong

Further to the Company's announcements dated 17 May 2023 iand 23 June 2023 in relation to the legal action against Mr. Chin Yong Keong ("CYK"), the Board of Directors of the Company wishes to furnish an update of the subject matter.

On 28 July 2023, the Company’s solicitors were served with the defence and counterclaim of CYK in response to the writ filed by the Company in the Penang High Court on 14 May 2023.

CYK counterclaimed for defamation against the Company for the Company’s announcement to Bursa Malaysia Securities Berhad on 17 May 2023 ("Announcement") and the summary write-up prepared by the Company's solicitors attached to the Announcement. CYK  also counterclaimed that the writ filed by the Company was an abuse of process.

The relief sought for in the counterclaim is as follows:-

a) General damages in the sum of RM3,000,000.00 for the defamation in the Announcement and Impugned Document and for each of the Impugned Republications and dissemination;

b) Aggravated damages in the sum of RM2,000,000.00;

c) Punitive damages in the sum of RM2,000,000.00;

d) Interest on damages at 5% per annum from 17 May 2023 to date of payment;

e) A permanent injunction restraining the Plantiff whether by themselves or by their servants or agents or howsoever otherwise from publishing or causing to be published the said or          any similar words defamatory of the Defendant;

f) General damages for abuse of process to be assessed;

g) Costs; and

h) Such further or other reliefs as this Honourable Court deems fit and just.

The Company has sought legal advice on the counterclaim and the Company’s solicitors are of the view that the Company has a strong defence to the counterclaim.

 

This announcement is dated 31st day of July 2023.

 


Announcement Info

Company Name MI TECHNOVATION BERHAD
Stock Name MI
Date Announced 31 Jul 2023
Category General Announcement for PLC
Reference Number GA1-30072023-00002