Serial System Ltd Provides Critical Litigation Update

Key Points from the Latest Announcement

• Serial System Ltd has issued an update regarding ongoing litigation that could have significant implications for the Group and its shareholders.
• The company refers to a series of previous litigation announcements dating back to March 2022, highlighting the long-running nature of the dispute.
• The litigation involves claims between Serial System’s subsidiary, Bast, and two parties: MDFF and Dato’ John.
• On 13 January 2026, the Court of Appeal of Malaysia in Putrajaya upheld the Kuala Lumpur High Court’s decision from 18 September 2024:
  • Bast’s Claim was allowed.
  • The Counterclaim by MDFF and Dato’ John was dismissed.
• MDFF and Dato’ John have now filed a notice of motion for leave to appeal to the Federal Court of Malaysia, seeking to overturn the Court of Appeal’s decision.
• Serial System Ltd will issue further updates if there are any material developments.
• The announcement is authorized by Derek Goh Bak Heng, Executive Chairman and Group CEO, on 23 February 2026.

Important Information for Shareholders

This litigation update is highly relevant and potentially price-sensitive for shareholders:

• The legal dispute has reached the highest level of appeal in Malaysia. If the Federal Court grants leave and subsequently overturns the earlier decisions, this could materially affect Serial System’s financial position and reputation.
• The confirmation of Bast’s Claim and dismissal of the Counterclaim at the Court of Appeal stage was a positive outcome for Serial System. However, ongoing uncertainty due to the appeal process may impact investor sentiment and share price volatility.
• Investors should monitor future announcements closely, as any material change in the litigation outcome could significantly affect the Group’s operations and share value.
• The company has committed to keeping shareholders informed of any material developments, which may include further legal proceedings or settlement discussions.

Potential Share Price Impact

The outcome of the Federal Court appeal could be a major catalyst for Serial System Ltd’s share price. A favorable result for the company would reinforce its legal position and reduce uncertainty, while an adverse outcome could lead to financial liabilities or reputational risks. Market participants should remain vigilant as litigation updates are released.

Next Steps

• Await the Federal Court’s decision on whether leave to appeal will be granted.
• Monitor further announcements from Serial System Ltd regarding the progression and outcome of the legal proceedings.
• Assess the impact of the litigation outcome on the company’s business and financial statements.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own due diligence and consult professional advisors before making any investment decisions regarding Serial System Ltd.

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