JOHOR BAHRU, Malaysia, Jan. 30, 2020 /PRNewswire/ -- A full and final settlement of all claims had been reached between Q & M Dental Group (Singapore) Limited, Q & M Dental Group (Malaysia) Sdn Bhd, Q & M Dental Surgery (Molek) Sdn Bhd & Q & M Dental Surgery (Austin) Sdn Bhd ("the Q & M Companies") and Dr Hong An Liang & Mdm Chong Lee Lee by way of a Consent Judgment dated 10 September 2019 ("Consent Judgment") issued by the JB High Court.
Pursuant to the terms of the Consent Judgement, Dr Hong and Mdm Chong have agreed to pay the Q & M Companies the sum of RM3,500,000.00 as full and final settlement of all claims on a without admission of liability basis.
In addition, Dr Hong and Mdm Chong have agreed to publish in print, an open apology to the Q & M Companies in one Malaysian newspaper and in one Singapore newspaper.
Dr Hong will also resign as the Director of Q & M Dental Surgery (Molek) Sdn Bhd & Q & M Dental Surgery (Austin) Sdn Bhd. Both Dr Hong and Mdm Chong have also agreed to exit from Q & M Dental Surgery (Molek) Sdn Bhd & Q & M Dental Surgery (Austin) Sdn Bhd by transferring their joint 30% shareholding in each of the aforesaid companies for a total purchase consideration of RM2. Dr Hong is also prohibited from establishing and/or operating a dental clinic within a 2.5 km radius of the Q & M Companies' dental clinic located in Johor Bahru, namely Q & M Molek and Q & M Bukit Indah for a period of two years from 10 September 2019.
The parties have agreed to settle all outstanding claims and counterclaims; and withdraw appeals, reports and complaints filed in this action and in related actions against each other, except for three related appeals of which two have been judged upon.
