Datasonic: Fima lawsuit due to pricing disagreement

PETALING JAYA: Datasonic Group Bhd, which is yet to receive notice of Fima Corp Bhd’s suit against it, said the issue was due to a disagreement between unit Datasonic Technologies Sdn Bhd (DTSB) and Percetakan Keselamatan Nasional Sdn Bhd (PKN) on the pricing of the 1.5 million Malaysian passport booklets supplied and should be far less than the claim amount.
Fima is suing DTSB for RM24.98 million.
The booklets were supplied for the interim period of six months from Dec 1, 2016 to May 31, 2017, before the passport booklets were fully printed by DTSB.
Datasonic explained that PKN had voluntarily delivered the Malaysian passport booklets to DTSB with full knowledge that the terms of the agreement between PKN and DTSB has not been agreed to between the parties and that the agreement has not been executed.
“Furthermore, the price of the Malaysian passport booklets supplied by PKN to DTSB has not been agreed and is still the subject of negotiation.”   
“As advised by the company’s solicitors, the company reserves all rights to claim against PKN for damages arising from the claim and is contemplating a counter-claim for the same.”
“DTSB is of the opinion that the final settlement sum will be far less than what is claimed by PKN, as it has meritorious defences against the claim but would nevertheless disclose a contingent liability of approximately RM5 million as previously disclosed in the Company’s Circular to Shareholders dated May 30, should the court decide wholly in PKN’s favour,” it said.
Datasonic shares closed 5.5 sen or 6.36% lower at 81 sen today, while Fimawas up three sen or 1.54% to RM1.98.