NOVA MSC BERHAD
19 Jan 2006
Type | Reply to query |
Reply to Bursa Malaysia’s Query Letter – Reference ID | MN-060118-35375 |
Subject | Kuala Lumpur Sessions Court Summons No. 49 of 2005 |
Contents :
We refer to the letter from Bursa Securities dated 19th January 2006 in relation to the above matter.
The Company had earlier announced on 17th January 2006 that it has been served with a Writ of Summons dated 14 December 2005 at its registered office on 16th January 2006 to appear in Court on 20th January 2006 to hear a case against itself for unauthorized use of certain copies of software at its premise on 12th January 2005, which is in breach of section 41(1) (d) of the Copyright Act 1987.
As requested in the letter from Bursa Securities, we set out below the following additional information for public release:-
1. The amount claimed under the summons and the interest rate.
There is no amount claimed in the summons. The summons only mentioned that the number of copies involved is 23 copies. No interest rates are involved.
2. The financial and operational impact of the summons on the Group.
Pending the disposal of the Writ of Summons, there is no financial and operational impact of the Writ of Summons to the Company save for the contingent liability it presents to the Company.
3. The expected losses if any arising from the summons.
The court may impose a fine which ranges between RM2,000 to RM20,000 per copy, which means the total fine which may be imposed is between RM46,000 to RM460,000.
This announcement is dated 19th January 2006.
Query Letter Contents :
We refer to your Company’s announcement dated 17 January 2006, in respect of
the aforesaid matter.
In this connection, kindly furnish Bursa Securities immediately with the
following additional information for public release:-
1. The amount claimed for under the summons and the interest rate.
2. The financial and operational impact of the summons on the Group.
3. The expected losses, if any arising from the summons.
Yours faithfully
TAN YEW ENG
Sector Head
Issues & Listing
Group Regulations
TYE/LMN
cc: Encik Onn Ismail
Securities Commission (via fax)
Comments are closed.