Silver Ridge Holdings has announced that on 19 January 2024, the High Court of Kuala Lumpur had dismissed Bank Pembangunan Malaysia Berhad’s application for a Mareva Injunction against the Company and its subsidiary, Silver Ridge Sdn Bhd.
In a filing, Silver Ridge said the High Court further dismissed BPMB’s oral application for an Erinford Injunction pending BPMB’s appeal against the dismissal of the Mareva Application.
A Mareva injunction is an application to freeze a debtors assets from being taken out of the country,
Silver Ridge is riddled with controversy, the listed company was publicly reprimanded by Bursa for breach in failing to make an immediate announcement when the company received a letter of contract.
In July 2023, BPMB former President the Datuk Zafer Hashim had been alleged to have conspired with Silver Ridge to ensure a particular engineering company was appointed as ICE for the RM1.3 billion fibre optic network project. The bank had been the facilitator for the loan to fund the project.
