Date: 23 October 2014

MATERIAL LITIGATION AMANAHRAYA REAL ESTATE INVESTMENT TRUST ("ARREIT") Kuala Lumpur High Court Civil Suit No: 22NCVC-476-10/2014 Standard Confectionary Sdn Bhd ("1st Plaintiff") and High-5 Conglomerate Berhad (formerly known as Silver Bird Group Berhad) ("2nd Plaintiff") v Amanah Raya Berhad ("1st Defendant"), CIMB Islamic Trustee Berhad (as Trustee for ARREIT), Dato' Tan Han Kook ("3rd Defendant") and Dato' Ahmad Rodzi Pawanteh ("4th Defendant")

 

Type Announcement
Subject MATERIAL LITIGATION
Description AMANAHRAYA REAL ESTATE INVESTMENT TRUST ("ARREIT")

Kuala Lumpur High Court Civil Suit No: 22NCVC-476-10/2014
Standard Confectionary Sdn Bhd ("1st Plaintiff") and High-5 Conglomerate Berhad (formerly known as Silver Bird Group Berhad) ("2nd Plaintiff") v Amanah Raya Berhad ("1st Defendant"), CIMB Islamic Trustee Berhad (as Trustee for ARREIT), Dato' Tan Han Kook ("3rd Defendant") and Dato' Ahmad Rodzi Pawanteh ("4th Defendant")

AmanahRaya-REITManagers Sdn. Bhd., the Manager of ARREIT, wishes to announce that CIMB Islamic Trustee Berhad, the Trustee of ARREIT ("Trustee") had on 21 October 2014 been notified by Amanah Raya Berhad that a Writ ofSummons and Statement of Claim dated 17 October 2014 , respectively as described hereinabove has been filed by the 1st Plaintiff and 2nd Plaintiff in the High Court of Malaya at Kuala Lumpur.

 

In its Statement of Claim, the 1st Plaintiff and the 2nd Plaintiff pray for the following orders:

 

(a) A declaration that the title of Trustee to all that pieces of land held under Geran 285748, Lot No. 62048, Pekan Baru Hicom, District of Petaling, Selangot Darul Ehsan together with a factory complex erected thereon ("Property") is defeasible by virtueof Section 340(1), (2) and (3) of the National Land Code 1965 ("NLC");

 

(b) A declaration that the Statutory Lease dated 6 October 2006 duly registered at the Land Registry vide Presentation No. 11855/2007 in favour of the 2nd Plaintiff ("Registered Lease") isdefeasible by virtue of Section 340(1) of the NLC;

 

(c) An order that the transfer between Trustee and 1st Defendant ("2nd Transfer") and the transfer between 1st Plaintiff and 1st Defendant ("1st Transfer"), the Lease Agreement dated 17 May 2006 between 1st Defendant and 2nd Plaintiff ("Lease Agreement"), the Novation Agreement dated 26 September 2007 between 1st Defendant, Trustee and 2nd Plaintiff ("NovationAgreement") and the Supplemental Agreement dated 7 May 2013 between Trustee and 2nd Plaintiff ("SupplementalAgreement") be all declared null and void and be set aside;

 

(d) A declaration that the Sale and Purchase Agreement dated 17 May 2006 between 1st Plaintiff and 1st Defendant and the leaseback arrangement between 2nd Plaintiff and 1st Defendant is fraudulent and illegal and against public policy;

 

(e) A declaration that the Sale and Purchase Agreement dated 26 September 2007between 1st Defendant and 2nd Defendant, the Lease Agreement, the Novation Agreement and the Supplemental Agreement be declared null and void and unenforceable;

 

(f) A consequential order that the Register of Land Titles be directed pursuant to Section 417 of the NLC to cancel the 1st Transfer, 2nd Transfer and the Registered Lease;

 

(g) General, aggravated and punitive damages against 3rd Defendant and 4th Defendant; and

 

(h) Such further and other orders as the Court deems fit.

 

The case management for the suit has been fixed on 31 October 2014.

 

The Manager and Trustee are in the process of taking further legal advice and will make further announcements as necessary on future developments in this matter.

 

This announcement is dated 23 October 2014.

 

 



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