PDZ Holdings, a Malaysian investment holding company involved in the container liner business, on Friday (16 October) said it received a sealed order from the Kuala Lumpur High Court awarding claims to Dan-Bunkering (Singapore) Pte Ltd.
The claims payable to Dan-Bunkering total RM 4,943,503.00 (USD 1.2 million); it comprised RM 2,033,300.00 with interest of RM 2,754,203.00, costs of RM150,000.00 and allocator fee of RM 6,000.00.
The claims made are for non-payment of marine fuel oil and/or gas oil supplied to vessels previously owned by former PDZ Holdings subsidiary, Perkapalan Dai Zhun Sdn. Bhd, it explained.
PDZ noted it has made provisions of RM 6,732,000.00 in the unaudited consolidated financial statements during the financial period ended 30 June 2020; suggesting enough liquidity to cover potential liabilities from the Dan-Bunkering case.
The company’s solicitors Messrs. Mohd Latip & Associates, meanwhile, said PDZ Holdings has a strong arguable case in the Court of Appeal.
As such, the company has since filed for an appeal with case management scheduled on 9 December, 2020.
Photo credit: Muhammad Faiz Zulkeflee
Published: 20 October, 2020
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