The group says the withdrawal will allow it to focus on business, long-term growth.
Puncak Niaga Holdings Bhd had previously alleged that the Selangor government committed a forced takeover of the state’s water industry in March 2017.
“Hence, the Shah Alam High Court has struck off the case,” the group said in a filing with Bursa Malaysia today. In today’s filing, Puncak Niaga said the discontinuation was made given that the claim has yet to proceed to trial at the Shah Alam High Court despite being initiated six years ago.
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