<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 31): Maxwell International Holdings Bhd said that its subsidiary Jinjiang Zhenxing Shoes &amp; Plastics Co Ltd (JZSP) may be facing 14 litigation cases in China, which may cost the group 272.18 million renminbi (RM173.18 million).</p></div>

<div class=newsTextDataWrapInner><p>The cases were filed from Dec 29 last year to April 26, according to a filing by Maxwell International. However, the group said its board is “unable to confirm” the litigations at this juncture.</p></div>

<div class=newsTextDataWrapInner><p>Maxwell International said the board has proceeded to appoint an external law firm in Malaysia to confirm and clarify the accuracy of the litigation matters, which is expected to be done within two months.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Additionally, the law firm will also carry out a thorough review of the litigations, the liabilities and potential impacts on JZSP, and the proposed steps to be taken by JZSP, added Maxwell International.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Maxwell International has been trading at its all-time low since mid-2016. Today, the counter closed one sen higher at three sen with 22.29 million shares traded, giving it a market capitalisation of RM13.96 million.</p></div>


KUALA LUMPUR (July 31): Maxwell International Holdings Bhd said that its subsidiary Jinjiang Zhenxing Shoes & Plastics Co Ltd (JZSP) may be facing 14 litigation cases in China, which may cost the group 272.18 million renminbi (RM173.18 million).

The cases were filed from Dec 29 last...

Maxwell International unit faces 14 cases in China, may cost group RM173m

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