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BURSA ANNOUNCEMENTS

Date : 30 October 2012

MATERIAL LITIGATION TALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”) - Civil Suit by Beijing Puresino Boda Environmental Engineering Co Ltd (“BODA”) against Puresino (Guanghan) Water Co Ltd (“Puresino Guanghan”), a subsidiary of Taliworks (“Civil Suit”) Plaintiff : BODA Defendant : Puresino Guanghan

TALIWORKS CORPORATION BERHAD

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionTALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”)
- Civil Suit by Beijing Puresino Boda Environmental Engineering Co Ltd (“BODA”) against Puresino (Guanghan) Water Co Ltd (“Puresino Guanghan”), a subsidiary of Taliworks (“Civil Suit”)
Plaintiff : BODA
Defendant : Puresino Guanghan
Further to the announcements made by the Company on 30 June 2011 and 29 August 2012 in relation to the above matter, we wish to update the Exchange that Puresino Guanghan had on 23 October 2012 received a Notice of Compulsory Enforcement (“Notice”) in respect of the above matter from the Sichuan Deyang City Intermediate People’s Court (the “Court”). The details of the Notice are as follows:-
The Defendant shall within 3 days from the date of receipt of the said Notice :-
(a) pay the Plaintiff a sum of RMB3,646,302.05 ; and

(b) pay the Deyang Finance Bureau a sum of RMB38,863.00 as execution fee.

The decision of the Court is not expected to have a material financial impact on the financial results of the Group for the financial year ending 31 December 2012.

The Defendant is in the midst of taking the necessary steps to comply with the Notice.

This announcement is dated 30 October 2012.


Announcement Info

Company NameTALIWORKS CORPORATION BERHAD  
Stock Name TALIWRK    
Date Announced30 Oct 2012  
CategoryGeneral Announcement
Reference NoCS-121030-469EB

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