KUALA LUMPUR (Aug 5): Infomina Bhd (KL:INFOM) said its 99.95%-owned unit Infomina Philippines Inc has sued the Bank of Philippine Islands (BPI) for 1.65 billion Philippine pesos (RM133 million) over the alleged invalid termination of a 2021 software purchase and maintenance agreement.

The suit is also premised on BPI’s alleged failure to report its usage and consumption of the software resold in accordance with the agreement, according to the ACE Market-listed IT services provider’s bourse filing on Tuesday.

Infomina noted the agreement was inked in October 2021 and the invalid termination occurred in September 2022.

“A total claim amount of PHP1.65 billion (equivalent to approximately RM133 million) has been filed against the defendant and such amount shall be payable to the plaintiff by the defendant,” the group said.

The total claim comprises Infomina Philippines' claims for a second-year subscription fee of PHP390.27 million, compensatory interest for invalid termination/software retention of PHP179.18 million, overage fees of PHP738.76 million, compensatory fees on overage fees of PHP337.72 million, and compound interest.

Infomina said the suit is not expected to have any immediate material impact on the group but it noted that a provision for doubtful debt of RM10 million was made for the financial year ended May 31, 2025.

“The civil case is also not expected to have any operational impact on the group,” it added.

Shares in Infomina ended four sen or 3.64% higher at RM1.14, valuing the group at RM685.42 million.