KUALA LUMPUR (Jan 12): JAKS Resources Bhd (KL:JAKS) has agreed to sell its 100% stake in JAKS Solar Nibong Tebal (JSNT) to Sunview Group Bhd (KL:SUNVIEW) unit, Sunview Asset Management Sdn Bhd, for RM15 million in cash plus up to RM40 million owed by JSNT.
The group expects a net pro forma gain of RM50.
The MOU outlines JAKS Solar Power and TDM-YT Plantation's plan to conduct feasibility studies for using the land for the LSS5 project and to negotiate the terms of the lease agreement.
Both parties will collaborate on the study, planning, and preparation of the project bidding document by the bid closing date, arrange project financing with acceptable guarantees and terms, and share costs for external consultants and necessary preparations.
A three-member Federal Court bench on Thursday unanimously dismissed Star Media Group’s appeal against a decision unfavourable to the media company issued by the Court of Appeal in 2021 — which set aside a prior High Court's summary judgement in 2020 for JAKS to pay RM134.
JAKS said its wholly-owned subsidiary, JAKS Power Sdn Bhd has signed a memorandum of understanding with Zero Carbon Energy Europe GmbH (ZC Energy).
Under the settlement, JAKS-KACC JV is to pay Teknoserv RM9.
GUH said it agreed to the out-of-court settlement, as continuing the legal dispute is costly and time-consuming.
In a Bursa Malaysia filing on Thursday (Jan 12), JAKS Resources said JAKS-KACC JV had issued and served a notice of arbitration to commence proceedings against Teknoserv on Dec 23, 2022.
KUALA LUMPUR (July 28): JAKS Resources Bhd has succeeded in its appeal against the High Court decision requiring the company to pay damages to Star Media Group Bhd in relation to the latter’s corporate guarantee claim.
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