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us apple developer accounts for sale:AT Systematization seeks to recoup RM4.4mil

admin2021-01-0718

AT Systematization said the defendants were to return all monies paid including the deposit and loan advance after the termination notice. It added its attempts to recover the said monies were futile and thus legal action was taken. KUALA LUMPUR: AT Systematization Bhd has filed a statement of claim against five shareholders of Pearl Glove (M) Sdn Bhd to recover RM4.40mil after calling off the deal to purchase the company. The company said its unit AT Glove Engineering Sdn Bhd had on Dec 31 filed the statement of claim against Hai Hong Capital Sdn Bhd; P’ng Sim Guan; P’ng Lai Heng; Hai Hong Holdings Sdn Bhd and Aaron Khoo Teng Soon. On June 26 last year, AT Glove Engineering had signed a sales and purchase agreement to purchase the five defendants’ stake in Pearl Glove for RM3.44mil. AT Glove also paid a deposit of RM687,800 to them. It also advanced RM3.71mil as loan to P’ng Sim Guan; P’ng Lai Heng; Hai Hong Holdings for monies owed to them by Pearl Glove. A total payment of RM4.40mil was paid to the defendants. “After a due diligence exercise was completed on the target company by the plaintiff, the plaintiff was unsatisfied with the result of the due diligence exercise. “On Dec 11, a termination notice was issued by the plaintiff after further negotiations with the defendants were unsuccessful, ” it said in a statement yesterday. AT Systematization said the defendants were to return all monies paid including the deposit and loan advance after the termination notice. It added its attempts to recover the said monies were futile and thus legal action was taken.
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