3 days ago
- Business
- New Straits Times
Winding-up petition against Mah Sing withdrawn
KUALA LUMPUR: Mah Sing Group Bhd said a winding-up petition against the company has been withdrawn by the petitioner without liberty to file afresh.
In a filing with Bursa Malaysia, the property developer said the petition was related to a judgment dated Sept 13, 2024, obtained by One2Print Sdn Bhd in the Kuala Lumpur Sessions Court over a trespass case.
Under the judgment, Mah Sing was ordered to pay RM61,770 in special damages, with interest at five per cent per annum from Jan 20, 2020, until full settlement, as well as RM21,000 in costs.
The company had earlier said it strongly refuted the basis of the petition and had filed an appeal in the High Court against the Sessions Court decision.
Mah Sing obtained an ad interim stay of execution on Feb 18 and deposited the judgment sum with a stakeholder pending its appeal, with further case management set for Aug 18.
It added that the withdrawal of the petition is not expected to have any material financial or operational impact on the group, apart from legal fees and related disbursements.
