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Asia Media Group Berhad
►
Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
127
30. Material litigation (CONT’D)
(b) ShahAlamHigh Court Civil Suit No. 22NCVC-186-03/2015: Rapid Rail Sdn. Bhd. (“Plaintiff”)
v Asia Media Sdn. Bhd. (“Defendant”)
On 27th March 2015, the Plaintiff filed theWrit and Statement of Claim against the Defendant
seeking, inter alia:
(i) Payment of Minimum Guaranteed Sum (“MGS”) amounting to RM 1,215,000.00 for
Year 5 of the Licence Agreement;
(ii) Payment of cumulative MGS for the extended period amounting to RM607,500.00
(iii) Costs and interests
By the Defence and Counterclaim dated 14th May 2015, the Defendant counter claimed
against the Plaintiff for breach of the License Agreement and pleaded the defence of set-
off.
On 3rd July 2015, the Plaintiff filed the Summary Judgement application and the High court
allowed the Plaintiff’s summary judgement application against the Defendant for the sum
of RM1,215,000 in 17th September 2015. This Judgement is presently stayed pending
the disposal of the trial in respect of the Defendant’s counterclaim.
This matteris fixed to go for trial on 29th February 2016 in respect of the Defendant’s
counterclaim, and the remainder of the Plaintiff’s claim.