Jaks Resources intends to Joppose the Originating Summons against the group submitted by Teknoserv Engineering, in a filing to Bursa the company said it was its subsidiary, JAKS Sdn Bhd on 10 January 2023 received the Originating Summons to enforce the Adjudication Decision against the members of JKJV, i.e. JAKS Sdn Bhd and KACC Construction Sdn Bhd.
The group added it is currently in the midst of filling an application for stay and an application to set aside the Adjudication Decision dated 23 December 2022, in the Kuala Lumpur High Court soonest in order to further safeguard its interests.
Prior to the filling of enforcement proceedings by TESB, Jaks issued and served a Notice of Arbitration to commence arbitration proceedings against TESB and the reliefs sought which include:
(i) A declaration that TESB’s self-determination of its employment is wrong and unlawful;
(ii) General damages arising from the alleged wrongful termination and unlawful self-determination;
(iii) Loss and damage amounting to RM11,773,250.00;
(iv) Costs and disbursements;
(v) Pre-award and post-award interest; and
(vi) Other reliefs the learned arbitrator deems just and appropriate.
Jaks informed Bursa that it was advised by its solicitors that it has strong merits in the above arbitration proceedings and intends to vigorously oppose TESB’s enforcement proceedings.
