Court rules in favour of Mulpha in claim over aborted sale deal with Mula

TheEdge Fri, Jul 17, 2020 11:54pm - 3 years View Original


KUALA LUMPUR (July 17): Mulpha International Bhd said the High Court has ruled in its favour in a claim related to the proposed sale of its subsidiary Bestari Sepang Sdn Bhd that was subsequently terminated.

Mulpha had entered into the deal to sell Bestari Sepang to Mula Holdings Sdn Bhd in 2012.

“Mulpha was successful in proving the claim against the defendants (Mula), and the judge found that Mula had breached the settlement agreement and that the said agreement was terminated on Dec 15, 2013,” the group said in a bourse filing today. 

It added that the court declared the amount that was due to Mulpha was RM301 million plus interest.

Mulpha said the court also dismissed a counterclaim by Mula.

Shares of Mulpha settled two sen or 1.5% higher today at RM1.35, with 9,200 units done. This values the company at RM431.49 million.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

MULPHA 2.370

Comments

Login to comment.