Q & M Dental Group Secures Binding Arbitral Award Amid Legal Showdown

In a significant development that could influence market sentiment and impact share prices, Q & M Dental Group (Singapore) Limited has provided an important update regarding an arbitral award in favor of its wholly-owned subsidiary, QDGM. The award, which was granted in arbitration between QDGM and the consortium comprising TCW, CVS, CCS, and Pride Access, marks a notable milestone in the Group’s ongoing legal proceedings.

The High Court of Malaya at Kuala Lumpur recognized the arbitral award as binding and entered a Court judgment in its favor on 27 August 2024. This enforcement order legally cements the award, underscoring the strength of QDGM’s position in this high-stakes dispute.

However, the legal battle is far from over. On 20 September 2024, the defendants—TCW, CVS, and Pride Access—filed an application to set aside the enforcement order. Their attempt to overturn the decision was dismissed by the High Court of Malaya, which also ordered the defendants to pay costs amounting to RM 20,000. Despite this setback, the defendants have lodged an appeal with the Court of Appeal of Malaysia, meaning that further legal proceedings could ensue.

This update is particularly significant for shareholders. The ongoing legal contest and the potential financial exposure related to the appeal make this a price-sensitive issue that could have short-term and long-term implications on the Company’s share value. Shareholders are urged to remain cautious when trading in the security, as any further material developments in this case may affect market behavior.

The Board of Directors has committed to providing additional updates as and when further material developments occur in the matter, highlighting that shareholders should remain vigilant and informed.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should carry out their own research and consult with professional advisors before making any investment decisions.