<div class=newsTextDataWrapInner><p>KUALA LUMPUR(Jan 30): APFT Bhd has dropped its lawsuit against its former executive chairman, Datuk Faruk Othman, for alleged&nbsp; misappropriation of funds.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, APFT said that suit has been discontinued with no order as to cost, and with no liberty to file afresh.</p></div>

<div class=newsTextDataWrapInner><p>APFT filed the suit on July 18 last year, claiming that Farouk had misappropriated APFT’s funds, causing the company to trigger the Practice Note 17 status and breaching Bursa Malaysia's Main Market-listing requirements.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>APFT today also announced that a suit filed by the company’s substantial shareholder Goh Boon Soo @Goh Yang Eng and nine others against APFT and its current directors has also been disposed of, with a civil appeal discontinued.</p></div>

<div class=newsTextDataWrapInner><p>Goh and the other nine plaintiffs have also withdrawn their request for an extraordinary general meeting to be held, the company said.</p></div>

<div class=newsTextDataWrapInner><p>APFT shares last traded at 1.5 sen, for a market capitalisation of RM20 million.</p></div>


APFT Bhd has dropped its lawsuit against its former executive chairman, Datuk Faruk Othman, for alleged  misappropriation of funds.

APFT drops lawsuit against former chairman

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A Myanmar rebel group has withdrawn its troops from a town along the Thai border following a counteroffensive by soldiers of the ruling junta from whom the rebels had this month wrested the key trading post, an official said on Wednesday.

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Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

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German Chancellor Olaf Scholz and Finance Minister Christian Lindner both expressed scepticism on Tuesday about reforming the country's 'debt brake', but Bundesbank president Joachim Nagel said he saw scope for adjustments.

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<p>(April 24): JPMorgan Chase CEO Jamie Dimon said the U.S. economy was booming and consumer spending continued to be resilient.</p>

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