PKNS files injunction to stop MRCB-Nusa Gapurna deal

PETALING JAYA: PKNS Holdings Sdn Bhd has filed an application for an injunction in its bid to restrain Nusa Gapurna Development Sdn Bhd and Malaysian Resources Corp Bhd (MRCB) from proceeding with their share sale agreement of Feb 13, 2013.
MRCB said it received a sealed copy of the notice of application for an Erinford injunction dated March 3, 2014 by PKNS Holdings.
PKNS Holdings filed the injunction to stop Nusa Gapurna and MRCB from completing their multi-million-ringgit merger plans, pending its appeal to the Court of Appeal.
Last week, the High Court dismissed PKNS Holdings' suit against Nusa Gapurna Development and MRCB for alleged breach of shareholders' agreement over stakes in PJ Sentral Development Sdn Bhd. The court ordered PKNS Holdings to pay Nusa Gapurna RM100,000 and MRCB RM50,000 in costs.