SBC Corporation Berhad sued Henry Sum Agong and Awang Karim bin Awang Saman to recover a RM2.13 million deposit paid under a share purchase agreement that was terminated due to unfulfilled conditions. SBC and the defendants reached an out-of-court settlement where the defendants agreed to pay RM2.5 million to settle the 1998 court judgment in full, with RM1 million due upon signing, RM750,000 by July 15, and the final RM750,000 by August 15. Upon receiving all payments, SBC will release the defendants from any further claims or liability.
Bursa Announcement - Share Buy-Back Statement sbc.corporation
SHARE BUY-BACK STATEMENT IN RELATION TO THE PROPOSED RENEWAL OF THE
AUTHORITY FOR THE COMPANY TO UNDERTAKE A SHARE BUY-BACK OF UP TO 10% OF
ITS ISSUED AND PAID-UP CAPITAL (“PROPOSED SHARE BUY-BACK RENEWAL”)
Bursa Announcement - Share Buy-Back Statement sbc.corporation
SHARE BUY-BACK STATEMENT IN RELATION TO THE PROPOSED RENEWAL OF THE
AUTHORITY FOR THE COMPANY TO UNDERTAKE A SHARE BUY-BACK OF UP TO 10% OF
ITS ISSUED AND PAID-UP CAPITAL (“PROPOSED SHARE BUY-BACK RENEWAL”)
This is a keynote lecture delivered in the 3rd American Society for Nutrition Middle East Congress, Dubai, UAE, Feb 2014.
The lecture was mainly focused on the effect of different bioactive food compounds on cancer, promoting diet therapy as a key component of cancer treatment.
This is a keynote lecture delivered in the 3rd American Society for Nutrition Middle East Congress, Dubai, UAE, Feb 2014.
The lecture was mainly focused on the effect of different bioactive food compounds on cancer, promoting diet therapy as a key component of cancer treatment.
SBC Corporation Berhad - Announcement On Acquisition Of New Subsidiarysbc.corporation
The Board of Directors of SBC Corporation Berhad (“SBC”) wishes to announce that SBC had on 9th June, 2009 acquired 8,000 ordinary shares of RM1.00 each representing 80% equity interest in Armada Bayumas Sdn. Bhd. (“ABSB”) at par for a total cash consideration of RM8,000 (“Acquisition”) in the following manner
1. SBC COPRPORATION BERHAD VS HENRY SUM AGONG AND AWANG KARIM
BIN AWANG SAMAN
Reference is made to the announcement of the unaudited financial results for the year
ended 31st March, 2009 on 21st May, 2009 under Item B11 (Material Litigation)
pertaining to the civil suit brought by SBC Corporation Berhad (“SBC”) against Henry
Sum Agong and Awang Karim bin Awang Saman (“Defendants”) for the recovery of the
deposit sum of RM2.13 million paid to the Defendants on a Share Sale Agreement
entered on 27th November, 1996 for the acquisition of the entire equity interest
comprising 10,000 shares of RM1.00 each in Perfect Landmark Sdn. Bhd. for a cash
consideration of RM8,330,231, which has since been terminated due to non-fulfilment of
conditions precedent by the Defendants.
The Board of Directors of SBC wishes to announce that SBC has reached an out of court
settlement with the Defendants by entering into a Debt Settlement Agreement
(“Settlement Agreement”) with the Defendants on 26th June, 2009. Pursuant to the
Settlement Agreement, SBC agrees to accept a payment of RM2.5 million by the
Defendants towards settlement in full of the judgement obtained by SBC against the
Defendants in November 1998 for RM2.13 million together with interest thereon, which
is payable as follows –
(a) RM1 million upon signing of the Settlement Agreement;
(b) RM750,000 by 15th July, 2009; and
(c) a final sum of RM750,000 by 15th August, 2009.
Upon receipt and subsequent clearance of all the above agreed payments, SBC will
release the Defendants from any further claim or liability and SBC shall discontinue all
execution (including bankruptcy) proceedings whatsoever against the Defendants.