Thursday 05 Dec 2024
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KUALA LUMPUR (April 12): FGV Holdings Bhd announced that its subsidiaries Sri Kehuma Sdn Bhd and Yapidmas Plantation Sdn Bhd (YPSB) are being sued over alleged fraudulent transactions and continuing trespass on lease agreements for 41 parcels of land.

In a bourse filing, FGV said its subsidiaries were served the writ of summons dated March 13, 2023 on Monday by the plaintiff Euggne Kousai, who is seeking damages of RM24.92 million.

Kousai claimed to be the registered owner of the 41 parcels of land, which were held under native title, said the agribusiness and food company.

The Kota Kinabalu High Court has fixed the first case management for April 13, according to FGV.

“FGV and the defendants are seeking legal advice to act against the writ,” it said.

FGV’s share prices closed to three sen or 2.05% to RM1.49. Its market capitalisation stood at RM5.44 billion.

 

 

 

Edited ByLam Jian Wyn
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