KUALA LUMPUR (March 8): UEM Sunrise Bhd received a lawsuit from Nipponkey Sdn Bhd dated March 2 due to several alleged breach of agreements.

The agreements involved comprise a sale and purchase agreement in Kuala Lumpur, two disposal and land transfer agreements in Tanjung Kupang, Johor Bahru, and another 12 disposal and land transfer agreements in the same area in Johor Bahru.

The lawsuit named UEM Sunrise’s three subsidiaries — Lucky Bright Star Sdn Bhd, Nusajaya Rise Sdn Bhd and Symphony Hills Sdn Bhd — as defendants.

Its claims include the defendants paying RM1.67 million to Nipponkey, other general damages and costs, and interest at 5% per annum calculated from date of the action until date of full and final payment.

“The defendants are seeking legal advice from its solicitors and will take the necessary steps to defend the action and enforce the rights of the defendants,” said UEM in its filing.

“In the event that the company loses the case, the financial impact to the company shall be limited to the amount awarded by the court,” it said.

UEM Sunrise added that the lawsuit shall have no impact on its operations.

The group’s share price closed 0.5 sen or 1.85% higher at 26.5 sen. Its market capitalisation was RM1.32 billion.