Bursa Announcements

Material Litigation

The Company wishes to inform that our solicitors had, on 5 June  2019,  advised that the Supreme Court in Phnom Penh had, vide oral judgment, upheld and concurred with the decision of the Court of Appeal as follows:

(a) the non-existence of the agreement between ETCM(C) and TCMC with Narita;

(b) Narita is to stop harassing ETCM(C) and TCMC in all manners; and

(c) Narita is to stop using the Nissan mark in all its business operations and remove the Nissan mark and stop using it in the billboards and advertisements of any kind.

However, the Supreme Court had: -

(i) dismissed the Court of Appeal’s decision on the following:

(a)  that ETCM(C) and TCMC  were to pay damages to Narita of the amount of USD329,207.932 based on the reason being is that such decision is unclear; and

(b) Narita should not incur the entire litigation cost based on the reason that this order is not within the provision of the Cambodian legal provisions;

(ii) also considered the Court of Appeal had omitted to decide on the compensation claimed by ETCM(C) and TCMC.

As such, the Supreme Court had made a ruling to return the appeal case to the Court of Appeal to hear and make a new decision based on reasonings of the Supreme Court as above.

Both ETCM(C) and TCMC are awaiting for the release of the written judgment of the Supreme Court and will be discussing the above matter with their solicitors on the next course of action.  Further announcement will be made should there be any material development on this matter.

This announcement is dated 1 July 2019.

Announcement Info