High Court orders Liberty Technology Resources to pay RM14.39m to SSM

KUALA LUMPUR: Liberty Technology Resources Sdn Bhd (LTRSB) has been ordered to pay about RM14.39 million to the Companies Commission of Malaysia (SSM) after the Kuala Lumpur High Court dismissed its suit against the agency.

In a statement today, SSM said LTRSB had filed the suit after SSM terminated an enterprise resource planning system development contract with the company on Dec 19, 2019.

In his judgment, Judge Ong Chee Kwan allowed SSM’s counterclaim bid whereby LTRSB was instructed to refund the amount of RM12.23 million already paid by SSM and to pay RM1.97 million in liquidated ascertained damages.

LTRSB was also told to pay a five per cent interest on the amount claimed by SSM starting from Nov 26, 2020, until the full payment of the claims is made as well as RM200,000 in costs to the commission. – Bernama