High Court allows Celcom Trading's claim of RM264m against Tajudin

Axiata, which has interests in 10 countries across Asia, says it is within the required foreign ownership levels.

KUALA LUMPUR: The High Court here has allowed  Celcom Trading Sdn Bhd's claim against Tan Sri Tajudin Ramli of RM264.52mil  with interest of 5% from May 13, 2013.

Axiata Group Bhd announced to Bursa Malaysia on Tuesday the High Court had also dismissed Tajudin's counterclaim with costs of RM100,000 after full trial of the suit.

To recap, Celcom Trading was then known as Rego Multi-Trades Sdn had filed a suit against Tajudin pursuant to an investment agreedment with Aras Capital Sdn Bhd and an indemnity letter given by Tajudin.

Tajudin then filed his defence and counterclaim seeking to avoid and rescind the indemnity letter and damages for conspiracy of RM100mil against Rego, Technology Resources Industries Bhd (now known as Celcom Resources Bhd) and their directors.