Asiatic Group (Holdings) (SGX:5CR) said a 3.7 million ringgit suit against its indirect subsidiary, Colben Energy Holdings (Maju Intan), was dismissed by Malaysia's Ipoh High Court, with Colben's counterclaim also rejected, according to a Friday filing on the Singapore Exchange.
The court awarded 30,000 ringgit in costs to each party. The company expects the ruling to have a positive impact on earnings per share and net tangible assets for the year ending March 2025.
Either party has 30 days from Jan. 22 to appeal.
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