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PETALING JAYA (July 29): Mah Sing Group Bhd's wholly owned subsidiary Elite Park Development Sdn Bhd has been ordered to pay RM1.65 million in legal costs after the Kuala Lumpur High Court dismissed its claims against three defendants in a lawsuit dating back to 2019.
In a Bursa Malaysia filing on Tuesday (July 28), Mah Sing said the High Court, on July 24, dismissed Elite Park Development's claims against Zulhkiple Abu Bakar (practising in Perunding ZNA) and two other defendants.
The court also allowed the first defendant's counterclaim of RM114,088.23, together with interest at 5% per annum from May 23, 2019 until full realisation.
Mah Sing said the group's financial exposure is expected to be limited to the RM114,088.23 judgment sum, the RM1.65 million costs awarded to the defendants, and the interest payable under the court's order.
The group added that it does not expect the High Court's decision to have any material adverse effect on its business operations.
Elite Park Development will continue to seek legal advice on the matter, including the appropriate next steps, and further announcements will be made should there be any material developments, Mah Sing said.
The suit was first announced in October 2019, with subsequent updates in November 2019 and July 2020.
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