KUALA LUMPUR 17 May - AEON BiG (M) Sdn. Bhd. is pleased to announce that the Federal Court of Malaysia has dismissed Mega Continental Sdn. Bhd.’s leave application to appeal to the Federal Court on 20 April 2021. Therefore, Mega Continental does not have any right to appeal to the Federal Court.
Accordingly, the Penang High Court declaration order obtained by AEON BiG on 8 November 2019 which was subsequently upheld by the Court of Appeal on 11 December 2020 stated that the Agreement to Lease signed between AEON BiG and Mega Continental for the property located at Bandar Alor Setar was a monthly tenancy instead of a 10-year lease as the State Authority did not grant their consent under Section 433B of the National Land Code 1965 within the required conditional precedent period under the Agreement.
On 6 August 2020, the Alor Setar High Court set aside the judgment in default obtained by Mega Continental on 9 June 2020 whereby Mega Continental claimed from AEON BiG a judgment sum of RM142 million. The judgment in default obtained was based on the alleged unlawful termination of the Agreement for the then, AEON BiG Alor Setar store.
Subsequently, AEON BiG has filed an application to strike out the aforesaid suit. This case has been transferred to Penang High Court on 6 April 2021 and the hearing of this case has yet to be fixed.
"To uphold and protect AEON BiG’s reputation and interest, AEON BiG shall be entitled to take all necessary legal action to preserve its rights in accordance with the law, and hold Mega Continental accountable for the loss of income, damage to reputation and the unnecessary inconvenience caused to AEON’s customers, management and staff, and business alliances," said AEON in a statement today.
According to AEON, despite the challenges, AEON BiG remains steadfast to continue growing its presence and to serving its customers by offering the best standard of customer experience as well as quality products with great value and wide choices.
"This year, AEON BiG expects to see an operating profit of two times more than last year. In 2020, AEON BiG started the B2B segment which generated a revenue of RM50 million and it will continue to focus on this segment, targeting a revenue of RM300 million this year.
"The company is committed towards building the business to achieve better performance and it is confident to accomplish even better results in the coming years," said AEON. - DagangNews.com
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