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FSBM wins court case against Technitium

On 20 January 2012 the Court delivered its judgement and ordered Technitium Sdn Bhd (“TSB”) to pay FSBM CTech Sdn Bhd (“FSBM CTech") the sum of RM32,409,434.77 and interest at 8% commencing from date of filing of Writ until date of judgment including costs of RM200,000.00 to be paid by TSB to FSBM CTech. In addition, the Court dismissed TSB’s counter-claim.

FSBM CTech had on 24 May 2010, brought an action against Technitium Sdn Bhd (“TSB”) for the recovery of debts amounting to a total of RM32,409,434.77 in respect of the supply of hardware and application of software, provision of professional services by FSBM CTech to TSB, late payment interest and others. On 14 February 2011, TSB counter-claimed against FSBM CTech for a total of 17,377,802.23 for the excess payment made to FSBM CTech, expenses and liquidated ascertained damages for various projects.