KUALA LUMPUR, Feb 27 — The Selangor State Development Corporation (PKNS) has lost its suit against Nusa Gapurna Development Sdn Bhd and Malaysian Resources Corp Bhd (MRCB) in relation to a breach of shareholders’ agreement over a stake in PJ Sentral Development Sdn Bhd.

High Court judge Datuk Hasnah Mohammed Hashim dismissed the suit after hearing evidence from six witnesses and ordered PKNS to pay RM100,000 in costs to Nusa Gapurna and RM50,000 to MRCB.

In her ruling, Justice Hasnah held that the plaintiff (PKNS) had failed to prove its case against the two defendants.

She said there was no breach of pre-emption right by Nusa Gapurna (first defendant) and there was also no interference by MRCB (second defendant) over the shareholders’ agreement in PJ Sentral.

Justice Hasnah also rejected a temporary injunction application by PKNS to prevent Nusa Gapurna from selling its 70 per cent stake in PJ Sentral.

The judge also allowed Nusa Gapurna’s counter claim for PKNS to sell its 30 per cent stake in PJ Central to MRCB.

In June last year, PKNS filed the suit against the two companies claiming that Nusa Gapurna had breached the shareholders’ agreement between itself, Nusa Gapurna and PJ Sentral.

Lawyer Dhinesh Bhaskaran, representing Nusa Gapurna, told reporters that the PKNS, in its statement of claim, had stated that it had pre-emption right over 70 per cent shares in PJ Sentral.

Nusa Gapurna countered that it was entitled to sell its 70 perent shares in PJ Sentral to MRCB.

He noted Nusa Gapurna also said that PKNS was obliged to sell its 30 per cent shares in PJ Sentral to MRCB.

Counsel Porres Royen represented PKNS while Sunil Abraham and Idza Hajar Ahmad Idzam acted for MRCB. — Bernama