Magma Group Bhd group managing director Datuk Seri Thomas Liang Chee Fong
KUALA LUMPUR: Magma Group Bhd
’s subsidiary, Impiana Selo Tioman Resorts Sdn Bhd, has been hit with a writ of summons and a statement of claim from Marc Bovell Paul Desmidt and Erin Camille Desmidt over an alleged breach of a sale and purchase agreement (SPA).
In a statement, Magma said the dispute stems from the previous management of Magma, and the company is committed to addressing the matter with the seriousness it deserves.
The plaintiffs' claim relates to five parcels of land in Tioman, Pahang, where the plaintiffs allege a lack of progress on the development.
Magma is currently consulting legal advisors to handle the situation properly and safeguard all stakeholders' interests. The company respects the court process and will comply with all legal requirements as the case moves forward.
“We take this matter with the utmost seriousness, recognising the importance of addressing the legacy issues that have surfaced from the previous management. Our primary focus is to manage this dispute diligently, ensuring that we safeguard the interests of all our stakeholders. We are fully committed to navigating this process with transparency and adherence to legal requirements.
“Our goal is to resolve this issue effectively, allowing us to continue focusing on our core business and future growth. We will take all necessary steps to achieve a satisfactory and final resolution, reinforcing our commitment to maintaining the trust and confidence of our shareholders and the broader market,” group managing director Datuk Seri Thomas Liang Chee Fong said.
