KUALA LUMPUR: Datasonic Group Bhd
believes it has a good defence against FIMA Corp Bhd's legal action to claim RM24.98mil from the company.
Fima had announced on Monday that its subsidiary, Percetakan Keselamatan Nasional Sdn Bhd (PKN), had filed legal action against Datasonic Technologies Sdn Bhd to claim RM24.98mil over a dispute over the supply of 1.5 million Malaysian passport booklets.
Datasonic said in its own filing on Tuesday that it believes the final settlement sum would be far less than what is claimed by PKN.
"PKN had voluntarily delivered the Malaysian Passport booklets to DTSB with full knowledge that the terms of the agreement between PKN and DTSB has not been agreed to between the parties and that the agreement has not been executed.
"Furthermore, the price of the Malaysian Passport booklets supplied by PKN to DTSB has not been agreed and is still the subject of negotiation," said Datasonic.
However, the company has disclosed a contingent liability of about RM5mil as previously disclosed in the company's circular to shareholders dated May 30, 2018, should the court decide wholly in PKN's favour.
Datasonic said it had yet to receive a writ of summons up to the time of its filing.
At 4.10pm, Datasonic shares were trading five sen or 5.78% lower at 81.5 sen apiece on the back of 3.1 million shares traded.
believes it has a good defence against FIMA Corp Bhd's legal action to claim RM24.98mil from the company.Fima had announced on Monday that its subsidiary, Percetakan Keselamatan Nasional Sdn Bhd (PKN), had filed legal action against Datasonic Technologies Sdn Bhd to claim RM24.98mil over a dispute over the supply of 1.5 million Malaysian passport booklets.
Datasonic said in its own filing on Tuesday that it believes the final settlement sum would be far less than what is claimed by PKN.
"PKN had voluntarily delivered the Malaysian Passport booklets to DTSB with full knowledge that the terms of the agreement between PKN and DTSB has not been agreed to between the parties and that the agreement has not been executed.
"Furthermore, the price of the Malaysian Passport booklets supplied by PKN to DTSB has not been agreed and is still the subject of negotiation," said Datasonic.
However, the company has disclosed a contingent liability of about RM5mil as previously disclosed in the company's circular to shareholders dated May 30, 2018, should the court decide wholly in PKN's favour.
Datasonic said it had yet to receive a writ of summons up to the time of its filing.
At 4.10pm, Datasonic shares were trading five sen or 5.78% lower at 81.5 sen apiece on the back of 3.1 million shares traded.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
