Petron gets court to strike out RM109 mil suit by Konsortium Lord-Saberkat

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KUALA LUMPUR (April 4): Petron Malaysia Refining & Marketing Bhd (Petron) has received approval from the Kuala Lumpur High Court to strike out a suit by Konsortium Lord-Saberkat Sdn Bhd (Lord Saberkat) suing the former for RM109.18 million.

In a filing today, Petron said it had filed an application to strike out the suit, which was heard today.

The High Court had allowed Petron’s application to strike out the suit filed by Lord Saberkat with costs, it said.

Recall that on Dec 3, 2018, Petron said it was served with a Writ and Statement of Claim from the solicitors of Lord Saberkat, claiming for damages amounting to RM109.18 million, together with general damages, interests and costs over a breach of contract.

In the filing dated Dec 3, Petron said the second suit was filed after the first suit filed back in November 2014.

Lord Saberkat had filed a writ against Petron, based on allegations that it had failed to pay Lord Saberkat for the transportation services by Lord Saberkat to Petron for the delivery of fuel to Petron's service stations in Peninsular Malaysia.

Petron closed one sen or 0.15% higher to RM6.57 today, for a market capitalisation of RM1.77 billion.