QEW Group Berhad (“QEW” or “the Company”) refers to the article published by Free Malaysia Today (FMT) concerning the ongoing civil proceedings involving the Company and certain of its directors in relation to the RPS-i investment.
As reported, the Company is currently undertaking the implementation of its restructuring and Exit Plan as part of its continuing efforts to fulfil its commitments to investors.
The Company wishes 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, Fatin Nabihah, spokesperson for QEW Group Berhad’s Legal & Compliance Department, confirms that the implementation of the Company’s Exit Plan remains actively in progress. The Company remains steadfast in its commitment to achieving a fair, practical and commercially viable resolution that safeguards the interests of its investors and all relevant stakeholders.
In its Defence filed before the Court, the Company has 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 the Company’s business performance, financial position, and the corporate governance mechanisms agreed upon by the parties.
The Company also wishes to assure investors that its Customer Relationship Management (CRM) function continues to operate fully and remains available to attend to investors’ enquiries, requests and ongoing communications. In addition, regular updates continue to be provided through the Company’s 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, the Company is constrained from commenting further on issues that are sub judice. QEW respectfully urges 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.
QEW Group Berhad remains committed to cooperating fully with the Court and all relevant authorities throughout the legal process. The Company will continue to provide material updates, where appropriate, through its official communication channels.
