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The latest announcement is out from Hoe Leong Corporation Ltd. ( (SG:H20) ).
Hoe Leong Corporation Ltd. has obtained a stay of execution from the Kuala Lumpur High Court on a judgment sum arising from ongoing litigation involving Auspicious Journey Sdn Bhd and several other parties. The stay is conditional on the company depositing RM9.28 million, representing half of the general damages, into its law firm’s stakeholder account within 30 days and paying RM750,000 in legal costs to the plaintiff’s solicitors.
The company plans to seek a further stay of execution from the Malaysian Court of Appeal pending the outcome of its appeal against the judgment. The conditions imposed highlight the immediate cash outlay and liquidity impact on Hoe Leong while the dispute remains unresolved, and the company has urged shareholders and investors to exercise caution in dealing with its securities until there is greater clarity on the litigation outcome and its financial consequences.
More about Hoe Leong Corporation Ltd.
Hoe Leong Corporation Ltd., incorporated in Singapore, operates in the industrial sector and is listed on the Singapore Exchange. The company has been involved in a long-running legal dispute in Malaysia linked to its business interests there, exposing it to sizeable litigation-related financial obligations and associated execution risks.
Current Market Cap: S$15.18M
For an in-depth examination of H20 stock, go to TipRanks’ Overview page.