Bintai Kinden Corporation Bhd (BKCB) said it has reached a full and final out-of-court settlement with Yeo Eng Lam over a profit guarantee recovery matter, with the company receiving RM1.5 million on Sept 11, 2026.
BKCB said the settlement process followed mediation held on July 28, during which the judge proposed that the parties consider resolving the dispute amicably.
The company subsequently made a settlement offer to Yeo on the same day, which was responded to on Aug 3.
BKCB’s board later agreed on Aug 19 to proceed with a settlement, while Yeo submitted a counter-proposal on Aug 27. Both parties eventually confirmed the settlement amount and terms on Sept 3, 2026.
BKCB said it received the RM1.5 million settlement sum on Sept 11, after which the matter was considered fully settled.
Under the agreement, there are no further claims or demands between the parties in relation to the profit guarantee recovery.
The settlement is expected to have a positive financial impact of RM1.5 million on the group.
After accounting for estimated legal fees of about RM100,000, the net positive financial impact is expected to be approximately RM1.4 million.
BKCB said the settlement would not have any material operational impact on the group and it does not expect any losses arising from the resolution of the matter.
