Free Malaysia Today·3 min read·hard
39 awarded RM12.8mil over non-delivery of preferred stock, fixed dividends
V
V Anbalagan
✦AI Summary
The Kuala Lumpur High Court ruled in favor of 39 investors, ordering Kaito Gin Holdings Bhd to pay RM12.8 million in damages for breaching share subscription agreements. The court rejected the company's defense that the agreements were disguised loans, affirming the validity of the investment contracts.
The Kuala Lumpur High Court said the agreements with Kaito Gin Holdings Bhd were valid share subscription contracts and not disguised loan arrangements. (Reuters pic)
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