Material Litigation

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the information memorandum of Steel Hawk dated 10 September 2021 ("Information Memorandum").

We refer to the details of the Suit as disclosed in Section 10.3(iii) of the Information Memorandum.

The Board of Directors of Steel Hawk wishes to announce that Steel Hawk had been informed by its solicitors on 16 November 2021 that the Court had on 15 November 2021 delivered its decision in relation to the Suit and awarded relief to the Plaintiffs as follows:-

1. The First Defendant is to pay the Plaintiffs a sum of RM173,638.28, being all salaries, claims, Employees Provident Fund ("EPF") and Social Security Organisation ("SOCSO") payments made by the Plaintiffs to the First Defendant from 3 July 2015 until the date of her resignation;
2. The First Defendant is to pay the Plaintiffs a sum of RM2,550.00, being the amount in the fraudulent invoice no. INV(LTM)/101/2015;
3. The First and Third Defendants are to prepare and file a verifying affidavit detailing all secret profits obtained by them and to have the same lodged with the Court within seven (7) days from the date of the Order given;
4. The First and/ or Third Defendants are to disgorge and pay all secret profits obtained by them to the Plaintiffs within three (3) days of lodging the verifying affidavit;
5. The First and/ or Third Defendants are to pay the sum of RM100,000.00 as aggravated damages to the Plaintiffs;
6. The First and/ or Third Defendants are to pay the sum of RM50,000.00 as exemplary damages to the Plaintiffs;
7. The First and/ or Third Defendants shall pay costs of RM25,000.00 to the Plaintiffs; and
8. Interest at the rate of 5% per annum is to be granted for all sums awarded above, said interest to be calculated from 4 October 2019 (the date of filing of the Writ of Summons) until the date of full and final settlement.

The Plaintiffs are in the midst of procuring the sealed Judgment.

This announcement is dated 16 November 2021.

Announcement Info