Thursday, 16 November 2023
Response to Allegation Involving Past Land Transaction in Kuala Langat
- Relating to a transaction from 42 years ago
- KPS Berhad to investigate claims and respond through appropriate channels
Shah Alam, Malaysia, 15 November 2023 – Kumpulan Perangsang Selangor Berhad (“KPS Berhad” or “the Company” or “the Group”) (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) wishes to respond to the recent article published on November 14, 2023, in an online portal theedgemalaysia, regarding a lawsuit filed against KPS Berhad, Menteri Besar Selangor (Inc) (MBI), and the Kuala Langat land administrator by three individuals - Tan Kok Heong, Tan Kok Cheng, and Tan Kok Gea. The allegation involves a transaction that had taken place 42 years ago of two parcels of land at Brooklyn and Sungai Kelambu in Kuala Langat, Selangor, totalling 9.21 acres.
KPS Berhad’s Managing Director/Group Chief Executive Officer, Ahmad Fariz Hassan,said:
“It is important to note that KPS Berhad has a long-standing commitment to ethical business practices and legal compliance. We will thoroughly investigate the claims made in the writ of summons and statement of claim. We are currently collating and reviewing pertinent documentation from 42 years ago and will be providing response via announcements to Bursa Securities and other related channels on material development in this case.”
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About KPS Berhad (www.kps.com.my)
Incorporated on 11 August 1975, KPS Berhad (“the Company” or “the Group”) is a global investment holding company listed on the Main Market of Bursa Malaysia Securities Berhad under the Industrial Products & Services Sector. KPS Berhad has core investments in the Manufacturing sector. While enhancing shareholder value by optimising returns, KPS Berhad is committed to contributing toward sustainable economic, environmental, and social development.
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