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Asia Media Group Berhad
►
Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
126
29. Events subsequent to year end
On 3 February 2016, Asia Media Group Berhad’s wholly-owned subsidiary, DPO Plantations
Sdn. Bhd. (“DPO”), had entered into a Joint Venture Agreement with Pelita Holdings Sdn. Bhd.
(“PHSB”) to develop a parcel of native customary rights land measuring situated at Loba Bunut,
Bintangor, Sarikei Division, Sarawak into an oil palm plantation via a joint venture company to
be formed by DPO and PHSB.
On 4 March 2016, the Board of Directors further announced that a joint venture company DPO
Pelita Bintangor Sdn. Bhd. has formed.
30. Material litigation
(a) Kuala Lumpur High Court Suit No. 22NCC-332-09/2014: Ang Lay Chieng (“Plaintiff”) v Asia
Media Group Berhad and Asia Media Sdn. Bhd. (“Defendants”)
On 5th September 2014, the Plaintiff, a former Chief Financial Officer of Defendants, filed
a Writ and a Statement of Claim against the Defendants seeking declaratory relief, an
order for rectification, general damages, exemplary damages and costs.
The Plaintiff’s primary claim against the Defendants is that there are irregularities in the
Statutory Declarations in respect of the Financial Statement of the Defendants for the
financial years ended 31 December 2012 and 31 December 2013 (“Financial Statements”)
on the ground that her signatures in the said Financial Statements have been forged.
The Defendants have filed their Amended Statement of Defence on 3rd December 2014
in which they vehemently denied the Plaintiff’s allegations and claims which it contends
are totally baseless and motivated by bad faith.
On 18th November 2014, the above mentioned suit was ordered to be consolidated with
another suit. In respect of the other suit, the Plaintiff therein has filed an interlocutory
application for discovery and appointment of a court expert.
On 22nd February 2016, the Plaintiff has filed a Notice of Discontinuance in respect of
its entire claim against the Defendants with no order as to costs and without liberty to file
afresh.