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1) Civil Suit No. S7-22-922-2004 2) Commercial Division Suit No. D6-22-177-2006

BackJan 09, 2008

Further to our announcement dated 7 July 2004 and 13 April 2006, we wish to announce that the following Suits have been withdrawn:-

1. Civil Suit No. S7-22-922-2004

Tasjaya Development Sdn Bhd v 1) Malaysia Building Society Berhad

2) MBSB Development Sdn Bhd

2. Commercial Division Suit No. D6-22-177-2006

Malaysia Building Society Berhad v Tasjaya Development Sdn Bhd

 

MBSB had on 22 August 2007 entered into a Settlement Agreement with Tasjaya Development Sdn Bhd ("TDSB") in respect of the full and final settlement of the total indebtedness of TDSB. Under the terms of the Settlement Agreement, TDSB shall within 7 days of the Execution Date, discontinue the legal suit filed by them against MBSB with no order as to costs and without liberty to file afresh and MBSB shall withdraw its suit against TDSB with no order as to costs but with liberty to file afresh in respect of any default under the Settlement Agreement and the Security document subsisting and/or further created to secure the indebtedness.

This announcement dated 9 January 2008.