This article first appeared in The Edge Financial Daily, on April 20, 2016.

KUALA LUMPUR: The Kuala Lumpur High Court has allowed a summary judgement application from Wisma MPL’s joint management body (JMB) against loss-making Malaysia Pacific Corp Bhd (MPCorp) to recover RM7.86 million from the latter.

In a filing with Bursa Malaysia yesterday, Practice Note 17 company MPCorp said the sum was as at Dec 31, 2015, and that the summary judgement also included a 10% interest per annum on the sum of RM7.05 million calculated from Jan 1, 2016 until the date of settlement, as well as RM5,000 in costs, subject to allocator fees.

“The company will file its appeal against the summary judgement to the Court of Appeal. Further announcements will be made as and when appropriate,” MPCorp added.

On Dec 22, 2015, MPCorp announced that it had received a writ of summons and statement of claims, both dated Dec 18 of the same year, from the solicitors acting for Wisma MPL’s JMB for the sum of RM8.2 million due as at June 30, 2015.

In the statement of claims, Wisma MPL’s JMB also sought for late payment interest at a rate of 10% per annum on the sum of RM7.4 million from July 1, 2015 until the date of full settlement, cost and any other relief that the court may order. MPCorp did not, however, specify what the claims were for.