Got info from patchay.com that redevelopment of the land currently occupied by Lai Meng school will commence in 2013 after the school has been relocated to Bukit Jalil. True or not? If true, they have to start constructing the school now.

General Announcement
HO HUP CONSTRUCTION COMPANY BHD
Stock Name : HOHUP
Date Announced:20/12/2011
Subject:MATERIAL LITIGATION

HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
- KUALA LUMPUR HIGH COURT SUIT RELATING TO THE JOINT DEVELOPMENT AGREEMENT DATED 16 MARCH 2010 BETWEEN BUKIT JALIL DEVELOPMENT SDN BHD AND PIONEER HAVEN SDN BHD ("SUIT")

Reference is made to the announcements made on 27 April 2010, 30 April 2010, 5 May 2010, 17 June 2010, 25 June 2010, 7 July 2010, 12 August 2010, 13 October 2010, 29 November 2010, 30 March 2011, 19 May 2011, 7 June 2011 and 20 June 2011.

The Board of Directors of Ho Hup wishes to inform that the Court of Appeal today allowed the four (4) appeals by certain former directors of Ho Hup and by Pioneer Haven Sdn. Bhd. ("PHSB", a wholly-owned subsidiary of Malton Berhad) against the Judgment of the Kuala Lumpur High Court ("High Court") pronounced on 7 June 2011, and dismissed Ho Hup's cross appeals in those four (4) matters. The Court of Appeal awarded costs to the appellants of RM100,000/- for the appeal and for the High Court Suit, in respect of each appeal.

In this regard, the Court of Appeal held that Ho Hup did not have the standing to take the High Court Suit against those former directors under Section 132C of the Companies Act 1965 ("the Act") and did not have the standing to take a derivative action on behalf of its subsidiary, Bukit Jalil Development Sdn. Bhd. The Court of Appeal also held that the Joint Development Agreement, Power of Attorney and Undertaking and Endorsement (all dated 16 March 2010) did not amount to a "disposal" under Section 132C of the Act . Consequently, the defendants who are former directors of Ho Hup as well as PHSB are found not to be liable to Ho Hup.

Ho Hup will be filling an appeal to the Federal Court. Meanwhile, the Court of Appeal has given 30 January 2012 as the hearing date for an application to be filed by Ho Hup for an order for the preservation of the rights and interests of Ho Hup , in particular in respect of the Land at Geran 42277, Lot No. 36101, Mukim of Petaling , Daerah Kuala Lumpur.

This announcement is made on 20 December 2011.

Anyone care to decipher the following announcement by Ho Hup?

Date Announced :31/01/2012

HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
- KUALA LUMPUR HIGH COURT SUIT RELATING TO THE JOINT DEVELOPMENT AGREEMENT DATED 16 MARCH 2010 BETWEEN BUKIT JALIL DEVELOPMENT SDN BHD AND PIONEER HAVEN SDN BHD ("SUIT")

Announcement Details/Table Section :

Reference is made to the announcements made on 27 April 2010, 30 April 2010, 5 May 2010, 17 June 2010, 25 June 2010, 7 July 2010, 12 August 2010, 13 October 2010, 29 November 2010, 30 March 2011, 19 May 2011, 7 June 2011, 20 June 2011, 20 December 2011 and 17 January 2012.

The Board of Directors of Ho Hup wishes to announce that, by consent of both Ho Hup and Pioneer Haven Sdn. Bhd. ("PHSB", a wholly-owned subsidiary of Malton Berhad), on 30 January 2012 the Court of Appeal made Orders to the following effect:-

"Without admission as to entitlements and without prejudice to the parties’ rights:

(1) THAT pending the disposal of Ho Hup’s application to the Federal Court for leave to appeal or, if such leave is given, until the disposal by the Federal Court of the Appeal to the Federal Court:

(a) PHSB, whether by itself or through its officers, agents, servants and/or any other person, shall not give effect to, or rely upon or otherwise act pursuant to or in connection with the Joint Development Agreement dated 16.03.2010 between Bukit Jalil Development Sdn. Bhd. ("BJD", a 70% subsidiary of Ho Hup) and PHSB (the "JDA"), in any manner howsoever;

(b) PHSB, whether by itself or through its officers, agent, servants and/or any other person, shall not in any way take any action whatsoever under or otherwise pursuant to the Power of Attorney dated 16.03.2010 by BJD in favour of PHSB (deposited in the Kuala Lumpur High Court bearing reference no. 14764/10) or otherwise pursuant to or under any power arising from the JDA, in any manner howsoever;

© PHSB, whether by itself or through its officers, agents, servants and/or any other person, shall not give effect to or rely upon or otherwise act pursuant to or in connection with the Endorsement and Undertaking dated 16.03.2010 executed by Ho Hup under or otherwise pursuant to the JDA, in any manner howsoever; and

(d) Ho Hup, whether by itself or through its officers, agents, servants and/or any other person, shall not deal, sell, transfer or encumber the Land held under Geran 42277, Lot No. 36101, Mukim of Petaling, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan (the “Land”);

(2) THAT Ho Hup provides full disclosure in writing, within 14 days of the date of this Order, as to:

(a) the development or proposed development of the Land or any part thereof whether undertaken by Ho Hup and/or any of its associated and/or related companies and/or otherwise;

(b) any and all encumbrances created over the Land and/or in relation to the Land or any development or proposed development thereon; and

© any and all instruments relating to the registered charges created in favour of Insas Credit & Leasing Sdn. Bhd. vide Presentation No. 26412/2011 and Presentation No. 26413/2011 including the facility instruments in relation thereto as well as any and all other security instruments in relation to the said facility instruments;

(3) THAT PHSB withdraws its application to the Court of Appeal (relating to certain "consequential reliefs"), with liberty to re-apply."
This announcement is dated 31 January 2012.

HO HUP CONSTRUCTION COMPANY BERHAD (“Ho Hup” or “the Company”)
EXTENSION OF TIME TO VARY THE REGULARISATION PLAN UNDER PRACTICE NOTE (“PN”) 17 OF THE BURSA MALAYSIA SECURITIES BERHAD MAIN MARKET LISTING REQUIREMENTS

We refer to the announcements dated 20 February 2012 and 21 February 2012.

M&A Securities Sdn Bhd, on behalf of the Company wishes to announce that after due consideration of all facts and circumstances of the matter, Bursa Malaysia Securities Berhad (“Bursa Securities”) has decided to grant the Company an extension of time up to 30 June 2012 to submit a revised regularisation plan to Bursa Securities.

The approval for the extension of time granted to Ho Hup is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the securities of Ho Hup and to commence de-listing procedures against the Company in the event:-

(1) Ho Hup fails to submit the revised regularisation plan to Bursa Securities for approval on or before 30 June 2012;

(2) Ho Hup fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(3) Ho Hup fails to implement its regularisation plan within the timeframe or extended timeframes stipulated by the regulatory authorities.

Upon occurrence of any of the events set out in items (1) to (3) above, a suspension shall be imposed on the trading of the listed securities of Ho Hup upon the expiry of five (5) market days from the date Ho Hup is notified by Bursa Securities and de-listing procedures shall be commenced against Ho Hup.

This announcement is dated 1 March 2012.

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