Crescendo Corporation Berhad announced that its subsidiary, Crescendo Education Sdn. Bhd., has secured a favourable judgment from the Johor Bahru High Court in a civil suit against KTC Human Resource Consultants Sdn. Bhd. and Crescendo International College Sdn. Bhd.
The High Court declared that KTC had breached both agreements, resulting in their termination.
As part of the judgment, KTC was ordered to sell and transfer its entire 350,000 shares in CICSB to CESB for a purchase price of RM2.079 million within seven days of the judgment.
The court further ordered KTC to execute all necessary documents and complete the share transfer process, including depositing the relevant forms and share certificates with CESB’s solicitors.
Including previously awarded costs arising from trial adjournment and dismissed applications, KTC’s total liability for costs stands at RM180,000.
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