Paramount Unit Faces MYR313 Million Lawsuit on Property Dispute

MT Newswires Live

04-14

Paramount (KLSE:PARAMON) unit Tanah Bayumas was slapped with a 313.1 million ringgit lawsuit by Prismaworld Embassy regarding a proposed property acquisition in Kuala Lumpur, Malaysia.

The lawsuit seeks to annul the deal, citing breaches of the Companies Act 2016, according to a Friday Malaysian bourse filing.

The company plans to defend the case and believes it has a strong defense against the claims.

The hearing for an injunction application is set for May. The company expects limited financial impact from the litigation, it added.

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The company expects limited financial impact from the litigation, it added.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CFA.SI","symbol_name":"NikkoAM-STC Asia REIT","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2527974820","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2527974820","pubTimestamp":1744612155,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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