Classita lawsuit settled amicably

PETALING JAYA: Classita Holdings Bhd, formerly Caely Holdings Bhd, announced that the company and plaintiffs Datuk Sri Tee Yam @ Koo Tee Yam and Madam Wong Siaw Puie have amicably settled their lawsuit without admission of liability and a consent judgment has been recorded.

The plaintiffs in November 2022 had filed a suit claiming they had advanced RM3.96mil to Classita for day-to-day operation and/or management costs which Classita’s board has since acknowledged were received from the plaintiffs. As such, Classita negotiated a settlement with the plaintiffs at the mutually agreed sum of RM3.3mil.