Green Packet withdraws suit against MYTV

“The parties are at liberty to file afresh their respective claims and demands if the parties are unable to execute a settlement agreement, ” said Green Packet in a filing to Bursa Malaysia.

PETALING JAYA: Green Packet Bhd withdrew its arbitration against MYTV Broadcasting Sdn Bhd on April 1, pending a positive settlement between the parties.

This arbitration was first announced by Green Packet on March 19 and 20,2019.

Back then, MYTV was embroiled in a dispute with Green Packet over the non-payment of 200,000 set-top boxes and non-fulfilment of obligations under a contract signed in 2018.

“The withdrawal by the company and MYTV is on a without prejudice and without admission of liability basis.

“The parties are at liberty to file afresh their respective claims and demands if the parties are unable to execute a settlement agreement, ” said Green Packet in a filing to Bursa Malaysia.

As of the date of the announcement, Green Packet is still negotiating the settlement and the announcement on the same will be made in due course.

Green Packet said that the withdrawal of the arbitration is not expected to have a material impact on the earnings per share and the net assets per share of the company for the financial year ending Dec 31,2020.