
KUALA LUMPUR (March 7): Mesiniaga Bhd which has been sued by Amanah Raya Bhd over a dispute on the obligations of a contract, says it could face a potential liability of RM8.2 million, including court-awarded costs, if it loses the case.
In a filing with Bursa Malaysia, the ICT solutions provider said the potential liability is based on claims put forth by Amanah Raya.
Mesiniaga announced the suit yesterday, saying was over a dispute on the obligations of the contract executed by both parties on April 23, 2015 relating to the implementation of Amanahraya Integrated System with integration of solution.
It comprised a system known as AVALOQ banking solution, IFCA financial solution and KODAK document imaging solution that included the implementation of the services, system integration and user acceptance testing, providing the necessary training to the plaintiff.
In its claims, Amanah Raya is also demanding for interests on the judgment sum, general damages and costs, and for Mesiniaga to return all data and information Amanah Raya supplied.
Mesiniaga said it has a strong defense and is discussing with its solicitor to enter defence within 14 days.
The suit is fixed for case management at the High Court on March 27.
Mesiniaga's share price closed two sen or 1.79% lower at RM1.10 today, valuing the company at RM66.4 million.