KUALA LUMPUR (March 7): A unit of Jiankun International Bhd has been served a summons for RM377,982 over its failure to pay the balance sum, pursuant to a settlement agreement in September last year.  

In a filing with Bursa Malaysia today, Jiankun said its unit JKI Construction Sdn Bhd was served with a writ of summons and statement of claim dated March 4 from Messrs KH Lim & Co, the solicitor for the plaintiff MKDB Sdn Bhd.

Under the writ, the plaintiff is demanding the outstanding sum of RM377,982.58, together with interest accruing thereon at the rate of 4% per annum from Dec 26, 2018 until full realisation. It is also claiming for costs at the rate of 4% per annum from the date of the court order until full realisation.

Jiankun said the group has adequate resources to meet the commitment of the claim and therefore, the lawsuit is not expected to have any material financial and operational impact on the group.

“The company is seeking the necessary legal advice to resolve and defend against this matter. Further announcement on the development of the above matter will be made to Bursa Malaysia in due course,” it said.

Jiankun closed down 2.5 sen or 7.69% to 30 sen today, for a market capitalisation of RM50.05 million.