MSM Malaysia Holdings Berhad in a filing has announced that it has dropped the Writ Action involving its wholly-owned subsidiary, MSM Sugar Refinery (Johor) Sdn Bhd and Gas Malaysia Energy and Services Sdn Bhd.
This is in regard to Gas Malaysia’s demand via a T-O-P Invoice for RM10,321,054-82, being for the alleged charges for the alleged difference between the T-O-P quantity and the actual quantity delivered to MSM Johor in 2021. MSM had sought an injunction to restrain Gas Malaysia from calling upon the Bank Guarantee and if demand had already been made to the issuing bank, from receiving the sum guaranteed.
The parties have now agreed to mutually to discontinue the proceedings inter se themselves and Notices of Discontinuance to that effect have been filed in the Kuala Lumpur High Court on 1 November 2023 to signify the conclusion of the Writ Action with each party to bear its own costs and without liberty to file afresh; and
They added that there is no potential liability, financial and operational impact to the Company and the MSM group of companies.
