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Reference No: TP-071011-42605 |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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11-10-2007 |
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| Type |
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Announcement |
| Subject |
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PACIFICMAS BERHAD ("PacificMas")
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LITIGATION BETWEEN THE PACIFIC INSURANCE BERHAD AND MALAYAN BANKING BERHAD |
| Contents |
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We refer to our announcement on the legal suit by Malayan Banking Berhad against The Pacific Insurance Berhad ("PIB"), a wholly-owned subsidiary of PacificMas, on 4 August 2004 and the subsequent updates on the status of the litigation in PacificMas' quarterly financial reports. The legal suit against PIB was in relation to the settlement of a claim amounting to RM2,537,155 made under a fire insurance policy issued by PIB.
We wish to inform Bursa Malaysia Securities Berhad that on 11 October 2007, PIB received a letter from its lawyers advising that on 16 August 2007, the High Court had struck out the legal suit against PIB with costs awarded to PIB. |
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| This announcement is dated 11 October 2007. |
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