PETALING JAYA: Property developer Malaysia Pacific Corp Bhd (MPCorp) and its unit Oriental Pearl City Properties Sdn Bhd have been ordered by the Kuala Lumpur High Court to pay some RM113mil to AmanahRaya Development Sdn Bhd (ADSB) which had brought a suit against the former.
Based on MPCorp’s latest annual report, ADSB had filed an action against both firms on Sept 27, 2012, claiming RM113mil allegedly owing to both firms, as a result of a put option exercised by ADSB as per a joint-venture agreement between ADSB and Oriental and a deed of undertaking between ADSB and MPCorp.
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