Isa withdraws application for condo purchase documents

Isa withdraws application for condo purchase documents

His lawyer says this is as FGV Holdings has handed over the required documents.

Former FGV Holdings Bhd chairman Isa Samad.
KUALA LUMPUR:
Former FGV Holdings Bhd chairman Isa 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 above market price.

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

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

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

“However, there was no order on costs,” he said after attending proceedings in the chambers of 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 Azimah Omar on April 18.

Isa had 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, as the plaintiff, through 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, reportedly at above the market price.

The company said the suit was also related to the abuse of a company vehicle and petrol benefits by Emir.

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

The company is also claiming interest at 5% per annum against the compensation awarded from the date the suit was filed until the date of complete and final settlement.

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