Key Points from the Official Announcement
- Court Decision: The Court of Malaya at Johor Bahru, Malaysia has granted applications by Kingsmen Projects Sdn. Bhd. (KPSB), Mr. Lim Tian Siong, and Mr. Simon Ong Chin Sim to strike out the claim filed against them by AS Cleaning Equipment (M) Sdn. Bhd. (“AS Cleaning”).
- Cost Awarded: The Court has ordered AS Cleaning to pay costs of RM 6,000 to the applicants.
- Update Follows: This development follows an earlier announcement made on 20 April 2025 regarding the counterclaim filed by AS Cleaning.
- Board Involvement: The update is issued by Kingsmen Creatives Ltd.’s Board of Directors, signed off by Executive Chairman Soh Siak Poh Benedict on 25 January 2026.
Implications for Shareholders and Potential Investors
- Positive Legal Outcome: The successful striking out of the claim removes a potential legal and financial risk facing Kingsmen Creatives Ltd. and its subsidiaries. This outcome may be considered price sensitive as it positively impacts the company’s risk profile and reduces uncertainty related to litigation exposure.
- Financial Impact: The award of RM 6,000 in costs to Kingsmen Projects Sdn. Bhd. and the involved individuals, while not substantial in monetary terms, further reinforces the favorable outcome and may reflect prudent management of legal affairs.
- Share Price Sensitivity: Investors should be aware that resolution of litigation, especially with the claim being struck out, can improve market sentiment and potentially have a positive effect on the share price, as it signals a reduction in legal risks and associated costs.
Additional Details for Investors
- The announcement encourages shareholders and potential investors to carefully review the latest information and any further communications from the company regarding this matter.
- The Board advises those uncertain about their investment decisions to seek advice from financial, tax, legal, or other professional advisers.
Conclusion
The recent legal development in Malaysia is a significant and positive event for Kingsmen Creatives Ltd. and its stakeholders. By removing a pending legal claim and being awarded costs, the company strengthens its position and reduces uncertainties that could have impacted future performance or share valuation. Investors are encouraged to monitor further updates and assess the implications for their holdings.
Disclaimer: This article is intended for informational purposes only and does not constitute financial, legal, or investment advice. Investors are urged to consult with their professional advisers prior to making any investment decisions related to Kingsmen Creatives Ltd.
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