KUCHING: The High Court here has fixed June 16, 2023 for the ruling on the inter parte injunction sought by Cahya Mata Phosphates Industries Sdn Bhd (CMPI) against Syarikat SESCO Bhd from terminating electricity supply to its phosphate complex in Samalaju Industrial Park, Bintulu.
The High Court heard legal counsel on an inter parte basis for the injunction on May 30, 2023. “Upon hearing legal counsel for the parties, the High Court informed legal counsel that the court requires time to make a decision. The court fixed June 16, 2023 for the ruling on the inter parte injunction,” CMPI’s parent, Cahya Mata Sarawak Bhd (CMS) said in a filing with Bursa Malaysia.
CMS said the court has granted an ad interim injunction to hold over the ex parte injunction until the ruling day. The disputes between CMPI (formerly known as Malaysian Phosphate Additives (Sarawak) Sdn Bhd) and SESCO arose from a power purchase agreement (PPA) signed between the parties in January 2019.
Meanwhile, Sarawak Consolidated Industries Bhd (SCIB) said it has recently raised RM2.695 million from the first tranche private placement of 25 million shares at an issue price of RM0.1078 per placement share .
The company said it has fully utilised the money raised as at May 25, 2023. SCIB has proposed to place out up to 82.72 million new ordinary shares under the proposed private placement, representing up to 10 per cent of the company’s total issued shares. SCIB group’s core business is in manufacturing of precast concrete products and industrialised building system (IBS) components.
