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The suit was instituted for recovery of sums paid by TRI to Tan Sri Dato’ Tajudin Ramli (1st Defendant), Bistaman Ramli (2nd Defendant) and Dato’ Lim Kheng Yew (3rd Defendant) (former directors of TRI) as alleged compensation for loss of office and incentive payments and the return of two (2) luxury vehicles which were transferred to the 1st and 2nd Defendants.

We have today been served with a copy of the Defence and Counterclaim of the 1st and 2nd Defendants. In their Counterclaim against TRI, the 1st and 2nd Defendants seek, among other things, the following relief:

(i) Declarations that the 1st and 2nd Defendant were appointed as Chief Executive and Group Executive Vice President of TRI.

(ii) Declaration that TRI’s Board of Directors offered and paid the 1st and 2nd Defendants compensation for termination of their employments in the sum of RM23,443,339.00 for the 1st Defendant and RM6,198,151.00 for the 2nd Defendant as settlement.

(iii) That the settlement received by the 1st and 2nd Defendants from the Plaintiff was a full settlement in exchange for the 1st and 2nd Defendant’s agreement not to enforce their legal rights against the Plaintiff arising from the termination of the 1st and 2nd Defendant’s employment contracts.

(iv) That all compensation payments were paid in accordance with the law.

TRI is presently seeking legal advice on the Defence and Counterclaim of the 1st and 2nd Defendants. TM will make announcements from time to time in respect of any material developments in this matter.