Luminor Financial Unit Wins MYR21 Million Appeal Against KL Petrogas

MT Newswires09-02

Luminor Financial Holdings' (SGX:5UA) subsidiary SA Puncak Management won an appeal in the Malaysian court, which ordered its debtor, KL Petrogas, to pay 21.1 million ringgit in a dispute over a pre-factoring facility, according to a Tuesday filing to the Singapore stock exchange.

The Court of Appeal allowed SA Puncak's appeal against the High Court of Malaya's earlier ruling, holding the pre‑factoring facility valid and enforceable against KL Petrogas.

KL Petrogas was ordered to pay SA Puncak RM21.1 million, representing advances and profit due as of Oct. 24, 2025, plus interest at 5% per annum from that date until full payment, and RM100,000 in costs.

The company said it will pursue all avenues to recover the amounts due.

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