Glomac Bhd said legal proceedings relating to a civil suit filed against the group in 2020 have been concluded in its favour following the Federal Court’s dismissal of the plaintiff’s application for leave to appeal.
In a statement, the property developer said the Federal Court’s decision brings to an end all remaining proceedings relating to the case.
Glomac said the conclusion of the legal proceedings is not expected to have any material effect on the group’s earnings, net assets or operations.
The group had previously disclosed the civil suit in its announcements to Bursa Malaysia, with the legal proceedings having remained ongoing since the case was filed in 2020.
Following the Federal Court’s dismissal of the application for leave to appeal, Glomac said there are no further proceedings remaining in relation to the matter.
