CAREPLS 0163 CAREPLUS GROUP BERHAD unit gets writ of summons for RM27 mil

 CAREPLS 0163 CAREPLUS GROUP BERHAD unit gets writ of summons for RM27 mil

KUALA LUMPUR (Sept 1): Careplus Group Bhd said its wholly owned subsidiary Rubbercare Protection Products Sdn Bhd (RPP) has received a writ of summons and statement of claim filed by Petrolife Aero Sdn Bhd due to an alleged breach of agreement relating to the supply of liquefied natural gas (LNG).

Petrolife is alleging that RPP has breached its obligation and responsibility under the agreement for the supply of LNG entered by both groups, besides stating that the termination of contract by RPP is unlawful, according to Careplus’ filing on Thursday.

Amid the losses suffered, Petrolife is seeking a claim amounting to RM27.08 million from RPP.

RPP had appointed Petrolife to supply LNG for its new plant in Senawang, Negeri Sembilan from November 2021.

Careplus’ directors are of the opinion that Petrolife’s demands are unjustified and will defend the claim aggressively, it said.

“RPP had on June 10, 2022 filed a similar claim against Petrolife (RPP Suit) and announced the same to Bursa Malaysia Securities Bhd. RPP is presently seeking legal advice to either strike out this Writ of Summons and Statement of Claim filed by Petrolife (Petrolife Suit) or consolidate both the Petrolife Suit and RPP Suit,” Careplus added.

The matter has been fixed for case management by way of e-review on Sept 22, before High Court deputy registrar Suriani Ujang.

Careplus shares settled down one sen or 3.39% at 28.5 sen on Thursday, giving the glove company a market capitalisation of RM160.59 million.

http://www.theedgemarkets.com/article/careplus-unit-gets-writ-summons-rm27-mil