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An update from Serial System Ltd ( (SG:S69) ) is now available.
Serial System Ltd has announced that the Court of Appeal of Malaysia has dismissed the appeal by MDFF and Dato’ John against the High Court’s earlier decision in favour of the company’s subsidiary, Bast, thereby upholding and affirming the High Court ruling. As part of the decision, MDFF and Dato’ John have been ordered to pay Bast MYR 50,000 in legal costs, while the group has already fully provided for the claim in its 2020 and 2021 financial statements, suggesting limited additional financial impact but a strengthening of its legal position in the dispute.
More about Serial System Ltd
Serial System Ltd is a Singapore-incorporated company that operates as a group with subsidiaries, though the specific industry and product or service focus are not detailed in the announcement.
Average Trading Volume: 7,753,656
Technical Sentiment Signal: Buy
Current Market Cap: S$74.35M
For a thorough assessment of S69 stock, go to TipRanks’ Stock Analysis page.