Bina Puri to appeal summary judgment in RM28.2 mil suit from Wisma Majujaya
The suit revolved around an alleged RM28.
The suit revolved around an alleged RM28.
Allowing a summary judgement means that the court allows a party’s application to have a judgement against another without going for a full trial.
The suit revolves around a RM28.
Wisma Majujaya, based in Klang, filed the suit on May 16 last year at the Shah Alam High Court via Messrs Lim Chee Wee Partnership, where it is seeking a court order for the defendants to pay the sum of RM28.
According to bourse filing, Bina Puri said it received the final award of the arbitral tribunal judgment on Nov 7, which ordered Prolintas to pay the sum with interest to Latar.
The project, under the Sarawak Rural Water Supply Department, is expected to be completed by April 9, 2027.
The credit financing facility from MBSB bolsters Sumbangan Lagenda’s financial position, enabling it to not only meet its working capital requirements, but also improve its offerings, Bina Puri said in a statement.
The construction and property development firm’s profitability was attributable to the positive impact of its wholly-owned unit Bina Puri Sdn Bhd’s (BPSB) scheme of arrangement with creditors, which usually involves taking haircuts from the amount owed.
The petitioner, YTL Cement Marketing Sdn Bhd, claimed that Bina Puri had failed to settle a demanded amount of RM1.
Maju Offshore Capital offloaded the stake comprising 100 million shares via a direct business transaction on Monday, according to a bourse filing on Wednesday.