KUALA LUMPUR (April 24): The Court has ruled against Eka Noodles Bhd, crystallising claims of at least RM7.1 million plus interest, in its judgement favouring Bank Pertanian Malaysia Bhd in relation to the writ of summon and statement of claims filed against itself and wholly-owned unit Kilang Bihun Bersatu Sdn Bhd.

The filing with Bursa Malaysia today said that the claims include a sum of RM3.2 million, RM1.3 million and RM2.5 million. There is also a ta’widh or compensation charge of 1% per annum from Jan 9 last year on RM2.1 million and RM1 million, up to the date of full and final settlement or maturity of a BBA facility or judgement date, whichever is earlier.

Another ta’widh at the rate of “Interbank Islamic Money Market” per annum from judgement date on RM3.2 million and RM1.3 million, up to the date of full and final settlement, as well as another ta’widh on the same rate from Jan 9 on RM2.5 million up to the date of full and final settlement, are also part of the claims.

The cost of RM6,000 for the court filing is also included. Based on the group’s latest financial results, the cash and cash balance of Eka Noodles stood at only RM414,000, with an existing borrowing of RM60.0 million.

Eka Noodles did not say if it would appeal against the judgement.

As at closing, the group’s share price jumped by 8.3% or 0.5 sen to 6.5 sen, giving it a market capitalization of RM20.3 million.