MAA Group Berhad has successfully defended an originating summons filed by Bursa Malaysia Securities Berhad after the Kuala Lumpur High Court dismissed the case with no order as to costs.
MAA Group said the hearing for the originating summons was held on May 14, 2026.
The originating summons, filed in October 2025, named MAA Group as the first defendant, alongside CIMSEC Nominees (Tempatan) Sdn Bhd, KNM Group Berhad and KNM Process Systems Sdn Bhd as the second, third and fourth defendants respectively.
According to the company, the High Court ruled that it was not persuaded that MAA Group, as a shareholder convening an extraordinary general meeting (EGM), became subject to the full obligations of a listed issuer merely by calling the meeting under Sections 311 and 313 of the Companies Act 2016.
The court also held that any procedural defect, if present, was curable and that there was insufficient evidence of substantial injustice.
MAA Group said the full grounds of judgment will be provided by the court at a later date.
The company noted that Bursa Malaysia may file an appeal to the Court of Appeal within 30 days from May 14, 2026, with the deadline falling on June 12, 2026.
