Sunway denies claims of cheating in Perak project

PETALING JAYA: The Sunway Group has denied allegations that it cheated a company that included several Perak state agencies as its shareholders.

Sunway has also threatened to take legal action against those who made such claims.

In a brief statement, it said that these allegations were “totally unfounded”.

“We believe any investigation by the authorities will vindicate us. We reserve the right and will not hesitate to take legal action against any party which makes defamatory and libellous allegations.”

Earlier today, the lawyer for one of the owners of a resort lodged a police report, accusing Sunway of “illegal share transfers” that resulted in “multimillion ringgit losses” in a popular hot spring and spa project in Perak.

In the report, sighted by FMT, the complainant said four of the resort’s shareholders used to own 35% worth of joint venture shares in 1994, while Sunway City Berhad owned 65%.

Sunway City Berhad is a subsidiary of the Sunway Group.

However, the lawyer alleged that based on the latest figures, Sunway City Berhad’s shares were said to have increased to 95.15%, leaving one of the four companies of the resort project a measly 1.35%.

The complainant urged the authorities to investigate the matter and return the four companies’ original 35% stake as it used to be.