KUALA LUMPUR, ES Sunlogy Bhd said its wholly-owned unit, Savelite Engineering Sdn Bhd, has reached a settlement agreement to resolve a RM1.12 million judgment sum owed to Askey Media Technology Sdn Bhd through an eight-month instalment plan.
The payment stems from a legal dispute after Savelite completed renovation and electrical works for a two-storey office and warehouse more than a year behind schedule, causing Askey to suffer rental losses.
The High Court had earlier ordered Savelite to pay RM768,900 in liquidated damages, plus interest and legal costs. The Court of Appeal later upheld this decision, rejecting Savelite’s appeal in July 2025.
Following negotiations, both parties agreed to a full and final settlement, with Savelite paying RM10,000 in legal costs upfront and the remaining amount via eight post-dated cheques from October 2025 to May 2026. Under the terms, Askey will not initiate enforcement or winding-up proceedings as long as Savelite complies with the payment schedule.
ES Sunlogy said it will continue to monitor the matter and update shareholders on any material developments. At Monday’s close, ES Sunlogy’s shares fell 1.5 sen or 3.9% to 37 sen, valuing the group at RM259 million. The stock has gained 23% since its February debut at 30 sen.
