KUALA LUMPUR: Yi-Lai Bhd
suspended trading for one hour on Tuesday to announce it was seeking to strike out a suit over an alleged RM100mil property purchase.
The company said it was cited as the second defendant in the Kuala Lumpur High Court by Teng Kam Kheong where it was to purchase three properties for RM100mil.
Yi-Lai said it had not entered into any written or oral agreement with Teng for the purchase of the properties for RM100mil.
“Nor has the company, at the level of the board or its shareholders, ever approved any such purchase of the three properties, ” it said.
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