KUALA LUMPUR: Some RM87mil is at stake for UEM Group Bhd as the government-linked company and wholly owned subsidiary of Khazanah Nasional Bhd faces the Federal Court on Jan 11 in a fight against its former joint venture partner, Singapore’s Genisys Integrated Engineers Pte Ltd (GIE).
The impending case follows an appeal made by UEM against the decision of the Court of Appeal, which had on Nov 7, 2008 allowed GIE’s appeal against the High Court’s dismissal of a petition for relief and had ordered that UEM purchase the UEM Genisys Sdn Bhd shares from GIE.
