KUALA LUMPUR (Oct 29): Computer mainframe systems firm Infomina Bhd (KL:INFOM) said its Philippine unit faces a RM225.67 million counterclaim from the Bank of the Philippine Islands (BPI), following Infomina’s own suit over alleged wrongful contract termination in September 2022.
The counterclaim comprises an “unprecedented” three billion Philippine pesos (RM212.66 million) claim for exemplary damages, PHP173.48 million (RM12.3 million) as a refund for fees, and PHP10 million (RM710,000) for legal fees, Infomina said in a bourse filing on Wednesday.
BPI is also seeking to add Infomina Philippines’ board of directors as well as Infomina chief technology officer Siow Liew Fei as defendants to the counterclaim.
“Based on legal advice, [Infomina Philippines] remains confident in its claims against [BPI], as well as its defences against the counterclaim, including those addressing the unprecedented claim of PHP3 billion (RM212.66 million) as exemplary damages,” Infomina said.
The deadline to file its defence against the counterclaim is Nov 15, and is extendable for a further 20 days to Dec 5.
Under its suit against BPI, Infomina Philippines is claiming PHP1.65 billion (RM133 million) over the alleged invalid termination of the 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.
Shares in Infomina ended three sen or 2.19% higher at RM1.40 on Wednesday, valuing the company at RM841.75 million.