Practice Note 17 (PN17) company Industronics Berhad has been served with a Writ of Summons by Bluemount Investment Fund SPC involving potential financial exposure of up to US$ 5.15 million (approximately RM 22.8 million).
The electronics and technology solution provider disclosed that the writ was sealed by the High Court of Malaya at Kuala Lumpur on July 13, 2026, and officially served on its registered office on July 27, 2026.
Based on endorsement details on the writ, the lawsuit stems from matters linked to a Loan Agreement dated March 24, 2025, involving Industronics, along with allegations involving certain directors and officers. The Writ of Summons was served without an accompanying Statement of Claim. As a result, Industronics stated it is currently working with legal counsel to ascertain the precise nature, full basis, and scope of the suit.
The potential financial exposure identified so far stands at US$ 5.15 million comprising the principal amount and accrued interest as of April 2, 2026. This figure excludes additional interest and court/legal costs that may accumulate.
Industronics assured shareholders that the litigation is not expected to cause any material impact on its day-to-day business operations.
