Selangor Dredging Berhad has announced that its wholly owned subsidiary, SDB Properties Sdn Bhd, has reached a settlement to fully resolve a legal dispute with Rubyverse Sdn Bhd.
In a filing, the company said both parties entered into a settlement agreement on April 30, 2026, to conclude the High Court litigation and related counterclaims without admission of liability.
Under the agreement, a settlement sum of RM345,000 will be paid as full and final resolution of all claims between the parties. Both the main claim and counterclaim will be withdrawn, with no liberty to file afresh and no order as to costs.
The dispute originated from a writ of summons filed in the High Court of Kuala Lumpur.
Selangor Dredging said the settlement allows both parties to avoid further legal costs and uncertainty, while enabling SDB Properties to focus on its core business operations.
The group added that the settlement is not expected to have a material impact on its earnings or net assets for the financial year ending March 31, 2027, aside from the recognition of the settlement amount in its financial statements.
