Ranhill unit served with summons in China

PETALING JAYA: A unit of Ranhill Holdings Bhd has been served with a summons in China over an alleged 19.94 million yuan (RM12.76mil) in upaid fees.

The group told the stock exchange on Thursday that its unit, Ranhill Water Technologies (Cayman) Ltd (RWTC), had been served with a court summons on Oct 31, 2017 in relation to an agreement the company had entered into on Aug 19, 2014.

It said RWTC was the second defendant in the claim.

The group said the claim was also being made against its associate companies Ranhill Water (Hong Kong) Ltd (RWHK) and Ranhill Technologies (Shanghai) Ltd.

According to the filing, RWTC had appointed the claimant, Wahtoting Holding Ltd, to source for a party to acquire the interest in RWHK, for the party to then form a strategic partnership with RWTC.

Ranhill said the agreement was conditional upon key performance indicators (KPIs) to be met by the claimant.

“However, the KPI was completely not met by the claimant.

“As such, we are of the opinion that the claimant has no merit and that the claim is frivolous and baseless,” it said.

It added that RWTC would be engaging a legal firm to represent itself against the claim.

The group said none of the directors, major shareholders and persons connected with the directors and major shareholders of Ranhill had any interest, direct or indirect, in the matter.

The group halted the trading of its shares yesterday between 11.19am and 2.30pm.