TXCD Says Fresh RM8.56 Million Lawsuit Unlikely To Have Material Financial Impact
TXCD says new RM8.56m lawsuit unlikely to affect finances, citing similarity to earlier case struck out.Summary
TXCD Bhd has responded to a fresh lawsuit filed by LKD Trading Sdn Bhd (in liquidation) by stating that the claim, which seeks more than RM8.56 million in damages, is unlikely to have a material impact on the group’s financial position. The company points out that the new action is essentially the same as an earlier suit that was filed by LKD’s liquidator on 3 October 2025 and was subsequently struck out by the High Court on 21 May 2026, with the court awarding TXCD costs of RM20 000. LKD’s latest suit, launched on 29 June 2026, seeks declarations that two defendants defrauded creditors and monetary claims of RM8.18 million plus interest, as well as RM378 160.59 for alleged void withdrawals. Despite the renewed proceedings, TXCD maintains a strong defence and confidence in a favourable outcome.
(Source：Businesstoday | Malaysia)