Asia
Epicon to Appeal Mareva Injunction Ruling; Shares Down 2%
Epicon (KLSE:EPICON) plans to appeal a Johor Bahru High Court decision that favoured Ibrahim & Sons Engineering and other defendants in a dispute involving a Mareva injunction.The lawsuit was filed by its unit, Transnational Builder, against Ibrahim & Sons Engineering and three individuals, according to a Thursday Malaysian bourse filing.The court ruled in favour of the defendants on Wednesday at an inter partes hearing and on their application to set aside the injunction, with costs.Epicon said it will also apply for a stay of the decision under a certificate of urgency at the Johor Bahru High Court.The company will provide further updates on any material developments.Shares of the construction company fell 2% in recent trade.
KLSE:EPICON
