Real Estate

Mohd Isa withdraws Application to obtain Condo Purchase Documents

Date: 22 March 2019; Type: Legal News; Source: Bernama

KUALA LUMPUR, Mar 22 (Bernama) - Former FGV Holdings Berhad chairman, Tan Sri Mohd Isa Abdul Samad today withdrew his application to obtain documents relating to the minutes of the company's Board of Directors’ meeting and the approval for the purchase of a luxury condominium in Troika, at Persiaran KLCC which was allegedly bought at above market price.  

The application to produce the documents was related to a suit filed by FGV Holdings against Mohd Isa and the company's former president and group chief executive officer, Datuk Mohd Emir Mavani Abdullah to claim compensation amounting to RM7.69 million over the purchase of the luxury condominium.

Counsel Joshua Goh Shang Yi who represented Mohd Isa said his client was withdrawing the application after FGV Holdings handed over the required documents to Mohd Isa.

Goh said the court allowed Mohd Isa to withdraw with the liberty for his client to file the same application again if necessary.

"However, there was no order on costs,” he said after attending the proceeding in the chambers of the High Court deputy registrar Farah Shuhada Ramli today which was also attended by counsel Arthur Ng acting for FGV Holdings.

The counsel said the case was set for case management before Judge Datuk Azimah Omar on April 18.

Earlier, Mohd Isa applied to obtain the documents from FGV Holdings as he could not gain access to all the documents after resigning from the company's chairman post two years ago.

FGV Holdings Berhad as the plaintiff via a statement to Bursa Malaysia on Nov 30, explained that the suit filed against both defendants was related to the purchase of a luxury condominium in Troika, Persiaran KLCC by FGV said to be above the market price.

The company said the suit was also related to the abuse of company vehicle and petrol benefit by Mohd Emir,

As such, FGV is claiming RM4.54 million from both defendants and RM3.15 million from Mohd Emir on charges of abusing company vehicle and petrol benefit.

The company is also claiming interest at five per cent per annum against the compensation awarded from the date of the filing of the suit until the date of complete and final settlement.

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