Public Bank drops lawsuit against Magma Group

Magma Group Bhd managing director Datuk Seri Thomas Liang Chee Fong

KUALA LUMPUR: Magma Group Bhd has announced that the court had granted permission for Public Bank Bhd to withdraw suit against the defendants, which includes its wholly-owned subsidiary, Astaka Mekar Sdn Bhd.

“This withdrawal is executed with the liberty to file afresh and without any order as to costs, marking a pivotal moment for the company,” Magma said in a statement.