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KPS sued over alleged land fraud in Kuala Langat

KUALA LUMPUR (Nov 14): Kumpulan Perangsang Selangor Bhd (KPS), along with Menteri Besar Selangor (Inc) (MBI) and the Kuala Langat land administrator, have been sued by a trio over alleged fraud involving land in Kuala Langat.
In a bourse filing on Tuesday, KPS said it had received a writ of summons and statement of claim from three individuals, namely Tan Kok Heong, Tan Kok Cheng and Tan Kok Gea.
The dispute involves two parcels of land measuring 9.21 acres that were part of a mining scheme under KPS at Brooklyn and Sungai Kelambu in Kuala Langat.
The plaintiffs alleged that the parcels had belonged to Ang Kua and Tan Hooy, the deceased parents of Kok Heong and Kok Cheng.
Kok Gea, meanwhile, claimed to be the appointed administrator of the deceased parents.
The plaintiffs alleged that there was an agreement that the parcels would be replaced with land in Brooklyn.
In addition, they also alleged that the defendants have defrauded, or are conspiring to defraud the trio, of the parcels, which resulted in the land being sold to a third party.
The plaintiffs sought declarations that they were the previous owners of the Kuala Langat land, that the Land Replacement Agreement (LRA) issued by MBI and KPS are valid, and that the defendants have breached the trust and repudiated the agreement as they had failed to give the plaintiffs the replacement land.
Hence, the trio sought damages in compensation for the two lands they sold to the third party by KPS based on market rate, or based on the previous land assessments made by the Inland Revenue Board Malaysia.
“The claim is not expected to have any material financial and operational impact on KPS for the financial year ending December 31,2023 (FY2023).
“The suit is fixed for case management on December 5, 2023 by way of e-Review before the Court Registrar. KPS will take all necessary steps to robustly defend the suit and will be filing a defence to the suit.
“The company will make further announcements on any material developments of the matter from time to time,” it said.
Shares in KPS finished 0.005 sen or 0.63% higher at 80 sen, giving it a market capitalisation of RM427.22 million.
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Source: EdgeProp.my

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