MALAYSIA: reNIKOLA Solar’s shareholders have been named as defendants in a lawsuit seeking damages for allegedly inducing breach of contract and conspiracy to injure, a statement from RAM Ratings confirmed. The rating agency is closely monitoring the lawsuit.
On the 29th June 2022, Kazuomi Keneto and DPI Solar 1 brought an action against 25 others, seeking damages for allegedly inducing breach of contract and conspiracy to injure in respect of two 30 MWac solar projects.
The suit named Lim Beng Guan, a director of reNIKOLA Solar, reNIKOLA Holdings (the sole shareholder of reNIKOLA Solar), reNIKOLA (an ultimate shareholder of reNIKOLA Solar) and Pimpinan Ehsan (the would-be shareholder of reNIKOLA Solar, pending regulatory approval under an ongoing corporate exercise) as co-defendants.