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EKA Noodles faces two lawsuits
by Cals Sat 30 Apr 2016, 03:05
EKA Noodles faces two lawsuits
By Gho Chee Yuan / theedgemarkets.com | April 29, 2016 : 10:36 PM MYTKUALA LUMPUR (April 29): EKA Noodles Bhd is facing two lawsuits from SEV Partnership Enterprise, an entity controlled by businessman Tan Hooi Ming and Tan Hooi Kang, seeking a total of RM2.21 million in compensation.
In a filing with Bursa Malaysia today, EKA said the first case is against subsidiary Kilang Bihun Bersatu Sdn Bhd, where SEV is demanding RM1.59 million.
Kilang Bihun is required to be present at the Penang High Court on May 18 for case management of the matter, itv said.
The second case is against another subsidiary, Rasayang Food Industries Sdn Bhd, for a sum of RM628,510. This case is fixed for case management at the Penang Sessions Court on May 16.
The rice and sago sticks products manufacturer said the cases will not have any financial or operational impact on the group.
EKA share price closed one sen or 8% lower at 11.5 sen today, for a market value of RM35.88 million.
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