RHB Bank Faces Lawsuit Over Sale of Leasehold Property

MT Newswires Live

Apr 16, 2025

RHB Bank (KLSE:RHBBANK) was named the third defendant in a lawsuit filed by Prismaworld Embassyview over the sale of a leasehold property in Kuala Lumpur.

The suit, filed in the Kuala Lumpur High Court, also names Tanah Bayumas, and the appointed receivers and managers of the plaintiff as defendants, accoridng to a Tuesday Malaysian bourse filing.

The lawsuit involves a sale and purchase deal dated Dec. 12, 2024, involving land that was charged to RHB Bank as collateral for banking facilities.

The plaintiff is seeking, among others, declarations of breach of duty, nullification of the sale, injunctions, and damages of up to 313.1 million ringgit.

A hearing for the interim injunction is scheduled for May 20, it added.

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