Jiankun sues Penang property firm’s directors after failed acquisition, seeks RM12 mil in damages
The suit pertains to a conditional share sale-and-purchase agreement signed on Dec 22, 2023 under which Jiankun was to acquire 99.
The suit pertains to a conditional share sale-and-purchase agreement signed on Dec 22, 2023 under which Jiankun was to acquire 99.
This follows reports earlier this month that Zahid said an individual, whom he did not name, had not signed documents to release his trustee responsibilities over a party asset.
Mahathir’s lawyers want Puad to hold a press conference at Umno headquarters, invite the media, and admit he was wrong to publish the false claim that Mahathir had committed a breach of trust.
Menara Kuala Lumpur Sdn Bhd is now planning to take legal action (committal proceedings) against the Ministry of Communications and the Federal Lands Commissioner, accusing them of a forcible takeover of the tower when it temporarily closed the KL Tower early on Thursday morning.
The lawsuit centres on the sale of a luxury condominium site in Taman U-Thant for RM145 million in December last year, which belonged to the plaintiff and charged to RHB as security for banking facilities, according to RHB in a bourse filing on Tuesday.
Paramount said the suit is unlikely to impact its finances, as the SPA signed in December 2024 allows TBSB to cancel the deal and claim a refund if legal issues block the transaction.
They stressed that the High Court's dismissal on Tuesday is not final, as the matter is still pending the hearing of an interim injunction scheduled for June 9.
In their suit filed on March 27, Hydroshoppe and Menara KL claim that LSH Capital and its units had induced a breach of a contract that the plaintiffs had agreed to with the government in an Aug 1, 2022 meeting.
"Our appointment was based on a legitimate government-led procurement process.
The former operator of KL Tower — Menara Kuala Lumpur Sdn Bhd — and its parent Hydroshoppe Sdn Bhd are alleging contractual breaches and misconduct that led to the award of the concession to LSH Service Master.