Yeo Hiap Seng ... dated June 2008

What’s Up?

An Indonesian company PT Kharisma Inti Persada has filed a new suit in a Jakarta court against Yeo Hiap Seng (Malaysia) Bhd (YHS) and its subsidiary, PT YHS Indonesia.

PT Kharisma was claiming about RM77mil for an alleged breach of an alleged distribution agreement and an alleged distribution appointment. The company will be contesting the claim and based on advice obtained from the company's Indonesia legal advisors, the directors are of the opinion that the claim is without merit and therefore unsustainable.