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April 21, 2015 10:47 PM ET

Metals and Mining

Company Overview of Selinsing Gold Mine Manager Sdn. Bhd.

Company Overview

Selinsing Gold Mine Manager Sdn. Bhd. engages in the exploration and development of gold mineral properties. The company is based in Kuala Lipis, Malaysia. As of June 25, 2007, Selinsing Gold Mine Manager Sdn. Bhd. operates as a subsidiary of Polar Potential Sdn. Bhd.

157, Jalan Bukit Bius

Kuala Lipis,  27200

Malaysia

Phone:

60 9 340 2042

Key Executives for Selinsing Gold Mine Manager Sdn. Bhd.

General Manager
Compensation as of Fiscal Year 2014.

Selinsing Gold Mine Manager Sdn. Bhd. Key Developments

Monument Mining Limited Obtains Stay for USD 4.9 Million Deposit over Selinsing Lawsuit

Monument Mining Limited has obtained a stay from the Malaysian Federal Court against the Court of Appeal's decision to deposit USD 9.4 million into a joint account maintained by legal counsels of the respective parties to the lawsuit. The stay is pending hearing of the motion for leave to appeal at the Federal Court, Putrajaya, Malaysia scheduled on December 9, 2014. The full trial of the matter has been fixed on February 14 and 15, 2015. According to Monument Mining, on October 10, 2012, the plaintiff, Selinsing Mine Sdn Bhd filed a Writ and Statement of Claim against Monument and its wholly-owned subsidiaries, Selinsing Gold Mine Manager Sdn Bhd and Able Return Sdn Bhd. The Plaintiff claimed, among other things, a 5% 'Joint Venture interest' in the profit of the gold production from one of tenements of Monument's Selinsing Gold Mine. The Plaintiff was the previous sub-lease holder and operator that sold the Selinsing Gold Mine to Monument and its subsidiaries free and clear of any encumbrances. The transaction was closed on June 25, 2007 and the plaintiff has been paid in full. The claim against Monument and its subsidiaries was not made until 2012. Monument said it denies that the plaintiff has any joint venture interest in the Selinsing Gold Mine and intends to continue to vigorously defend this claim.

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