‘Stay on stay’ wins Metramac reprieve

9 March 2006, Malaysiakini Toll concessionaires Metramac Corporation Sdn Bhd was today given a  reprieve by the Federal Court against an order for it to disclose detailed information on all the company’s assets to Fawziah Holdings Sdn Bhd to which it may have to pay RM65 million. Mr. Benjamin Dawson appearing for Fawziah Holdings Sdn Bhd argued that the Court cannot “stay a stay order” which he claimed was unlawful. “I am surprised that the applicant [Metramac] finds it onerous to set aside RM50 million when barely two months ago it paid RM106 million to a holding company as dividends and another RM57.5 million in January. So to say that setting aside RM50 million is onerous is almost sel-induced” he said.


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