Nestcon Berhad informed that its wholly owned subsidiary Nestcon Infra Sdn. Bhd. was served with a copy of the sealed Writ and Statement of Claim by a land owner who claimed the developer had tresspassed into his land during a project the company was involved in.
The statement filed, detailed that around 1 October 2018, Nestcon Infra, in the course of completing its project, allegedly trespassed on the land with machineries to carry out earthworks, thereby depriving the owner of the use and enjoyment of his land. The land owner is seeking against Nestcon Infra and other defendant for injunction, general damages, exemplary or aggravated damages, indemnity and special damages of RM1,825,288.20.
In response, Nestcon said its subsidiary's work for the project in question was completed on 12 December 2018 and the Certificate of Practical Completion was issued on the same day and it is at this moment unable to provide any assurances or predict the potential impact to its operations, financial performance, or future prospects at this stage from this legal matter.
However, it added that it assures shareholders, stakeholders, and investors that itremains committed to conducting business in an efficient and responsible manner. Nestcon Infra also believes it has a good defence against the claims, and any potential losses thereof are not expected to be significant to the Group.
