The claim sum consists of principal amount of RM2.35 million and interest of RM627,153.
Ikhmas Jaya told Bursa Malaysia that the group and IJSB had been served a writ of summons and statement of claim dated Nov 30 by the solicitors of Ipmuda.
However, it believes the legal action will not have any material financial and operational impact for the financial year ending Dec 31, 2018.
Ikhmas Jaya and IJSB will appoint solicitors to defend the action and take all the necessary steps to ensure their rights are protected.
Source: The Sun Daily