KUALA LUMPUR (April 21): The High Court has struck out a RM303.53 million claim against mass rapid  transit (MRT) project delivery partner MMC Gamuda KVMRT (PDP) Sdn Bhd (KVMRT PDP).
 
The suit was filed last July by Accolade Land Sdn Bhd, which claimed KVMRT PDP — jointly owned by MMC Corp Bhd and Gamuda Bhd — had breached a contract relating to the acquisition of land from Accolade.
 
In a filing with Bursa Malaysia today, Gamuda said the High Court found Accolade’s suit to be “totally unsustainable”, because “the alleged oral agreement was not supported by any contemporaneous evidence”.
 
“Even if there was indeed a contract, Accolade has no cause of action, as there is no possible inducement for breach of contract,” said Gamuda.
 
No details of the land in question were given in Gamuda’s filings related to the suit.
 
Gamuda’s share price gained three sen or 0.59% at RM5.13 today, giving it a market capitalisation of RM12.46 billion.
 
MMC Corp, meanwhile, was traded unchanged at RM2.58, valuing the group at RM7.83 billion.