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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.