We refer
to recent media reports concerning the ongoing civil proceedings involving QEW
Group Berhad and certain of our directors in relation to the RPS-i investment.
As
reported, we are currently undertaking the implementation of our restructuring
and Exit Plan as part of our continuing efforts to fulfil our commitments to
investors.
We wish to
emphasise that the matters presently before the Court arise within the context
of a corporate restructuring and obligations resolution process. Such processes
are not uncommon within the financial and investment industry, particularly
where companies are undertaking structured measures to meet their obligations
in an orderly and sustainable manner.
When contacted by the media,
Fatin Nabihah, spokesperson for QEW Group Berhad's Legal & Compliance
Department, confirmed that the implementation of our Exit Plan remains actively
in progress. We remain steadfast in our commitment to achieving a fair,
practical and commercially viable resolution that safeguards the interests of
our investors and all relevant stakeholders.
In our
Defence filed before the Court, we have maintained that the RPS-i is a
Shariah-compliant structured investment instrument governed by the terms and
conditions of the RPS-i Agreement. The instrument is subject, among other
things, to our business performance, financial position, and the corporate
governance mechanisms agreed upon by the parties.
We also
wish to assure investors that our Customer Relationship Management (CRM)
function continues to operate fully and remains available to attend to
enquiries, requests and ongoing communications. In addition, regular updates
continue to be provided through our dedicated investor portal to ensure that
official information is communicated in a transparent, timely and orderly
manner.
As the
matter is presently the subject of ongoing civil proceedings before the Court,
we are constrained from commenting further on issues that are sub judice. We
respectfully urge all parties to allow the legal process to proceed without
undue speculation or the dissemination of inaccurate or misleading information
that may create unnecessary public confusion or prejudice the administration of
justice.
We remain
committed to cooperating fully with the Court and all relevant authorities
throughout the legal process. We will continue to provide material updates,
where appropriate, through our official communication channels.
Key Statement
“No final
judicial determination has been made in relation to the matters currently
before the Court, and all parties remain entitled to due process and a fair
hearing under the law.”
Invitation
for Appointment to QEW's Panel of Law Firms
