Further to the announcements on 25 February 2020, 2 March 2020, 6 March 2020, 27 July 2020, 12 August 2020, 21 December 2020 and 13 January 2021 in relation to the Writ served upon Scicom (MSC) Berhad (the “Company”) by Education Malaysia Global Services (“EMGS”), the Company is pleased to announce that on 24 January 2022, the Company and EMGS had entered into a full and complete Settlement Agreement whereby EMGS shall withdraw the Writ and associated claims and appeals forthwith with no liberty to file afresh in any forum wheresoever and with each party bearing their own legal costs.
Both parties look forward to an equitable and beneficial partnership going forward in positioning EMGS as the premier one stop service centre for international students and in promoting Malaysia globally as the preferred destination for tertiary education.
The Board of Directors of the Company is of the view that the aforementioned settlement agreement is in the best interests of the Company and will have a positive impact on the financial position and operations of the Company.
This announcement is dated 24 January 2022.
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