Sentoria Files Writ to Challenge OCBC Guarantees, Seeks MYR679 Million in Compensation
MT Newswires Live
Feb 03
Sentoria Group (KLSE:SNTORIA) has filed a writ with the High Court of Malaya against OCBC Bank (Malaysia), claiming 679 million ringgit in compensation.
The writ seeks a court declaration that the corporate guarantees provided by Sentoria Group in favor of OCBC, on behalf of Sentoria Borneo Land and Sentoria Borneo Samariang, are unenforceable, and to cancel the guarantees.
Sentoria Borneo Land and Sentoria Borneo Samariang are wholly owned subsidiaries of Sentoria Group and are currently under receivership and management.
The writ has yet to be served and will be delivered to the bank within six months. It will provide updates on the case as it develops.
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