Overview
Azam Jaya Berhad (“the Company”) wishes to provide an update on the ongoing litigation involving its wholly owned subsidiary, Pembinaan AJ, against Malayan Banking Berhad (“Maybank”), following previous announcements dated 28 November 2024, 22 May 2025, and 28 October 2025.
Key Updates
1. Federal Court Appeal
Maybank has obtained leave from the Federal Court on 10 March 2026 to appeal against the decision of the Court of Appeal.
2. Court of Appeal Order (Payment into Stakeholder Account)
On 24 June 2026, the Court of Appeal ordered, among others, that:
- Maybank pay the judgment sum of RM4,263,528.40
- Interest at 2% per month, calculated from 6 April 2020 to 24 June 2026
- The total sum be deposited with Pembinaan AJ’s solicitors as stakeholder, pending the disposal of the Federal Court appeal
The Company confirms that the full amount has been deposited by Maybank.
3. Status of Federal Court Proceedings
- The appeal is registered as Civil Appeal No. 02(f)-28-04/2026(S)
- During case management on 3 June 2026, it was noted that the Court of Appeal’s written grounds are still pending
- The next case management is scheduled for 15 July 2026
- The Record of Appeal has been filed
- No hearing date has been fixed at this stage
Next Steps
The Company will make further announcements as and when there are material developments in respect of this matter.