KUALA LUMPUR, May 24 — FGV Holdings Bhd and its information technology (IT) arm FGV Prodata System Sdn Bhd (Prodata) do not expect any financial and operational impact following a RM170.70 million compensation and damages claim by VDSL Technology Sdn Bhd.
in a filing with Bursa Malaysia today, FGV said it is seeking legal advice to act against the May 18, 2021 writ of summons from VDSL, an IT and related activities company.
VDSL is claiming compensation and damages from Prodata and the Federal Land Development Authority (Felda) over alleged breaches on various arrangements agreed upon by the parties with regard to the Felda Broadband Initiative Project.
“In the event Prodata loses the case against VDSL, the expected losses would be the amount as decided by the court.
“However, we strongly believe we are able to defend against the claim and we are in the process of engaging an external counsel to advise and represent FGV and Prodata in the matter,” said FGV, which is a global agricultural and agri-commodities company.
The High Court has fixed the case management to be on June 11, 2021 by way of an e-review. — Bernama
