Puncak Niaga appeals against High Court's dismissal of RM14 billion lawsuit

PETALING JAYA: Puncak Niaga Holdings Bhd is appealing against the Shah Alam High Court’s dismissal of its RM14 billion claim against Selangor Mentri Besar Datuk Seri Mohamed Azmin Ali, his predecessor Tan Sri Abdul Khalid Ibrahim and the Selangor state government.
Puncak Niaga told Bursa Malaysia that it had lodged an appeal with the Court of Appeal against the High Court’s decision in allowing the defendants’ applications and striking out the claim with costs.
In November, Puncak Niaga filed a RM14 billion lawsuit against the trio for alleged abuse of power by threatening to cause, or attempting to cause, the federal government to invoke the use of the Water Services Industry Act 2006 to force a takeover of the state’s water industry.
About a month later, Azmin filed a counterclaim against Puncak Niaga’s lawsuit, calling it an abuse of process. The High Court has set March 13 for delivery of decision.
Puncak Niaga’s share price was unchanged at 60.5 sen today on 289,400 shares done.