Long overdue payment for Sedania


“The outstanding amount, which was fully impaired in 2018, will be recognised as other income in second and third-quarter 2021, and will contribute directly to the company’s quarterly profit respectively, ” Sedania Innovator said.

KUALA LUMPUR: A unit of Sedania Innovator Bhd has received a long overdue payment amounting to RM1.5mil from a party as full and final settlement.

In a statement, the company said Sedania Technologies Sdn Bhd had filed a civil litigation suit against a party for non-payment of long outstanding debt in November 2019.

In August 2020, the company won and received judgment in its favour.

“The outstanding amount, which was fully impaired in 2018, will be recognised as other income in second and third-quarter 2021, and will contribute directly to the company’s quarterly profit respectively, ” it said.

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