Belgian company gets Eye on Malaysia

2010/02/09

KUALA LUMPUR: Belgian company Fitraco NV won its suit against MST Ad Suria Sdn Bhd to dismantle, remove and sell the Eye On Malaysia Ferris wheel.

MST Ad Suria is the company responsible for bringing the observation wheel to Malaysia.

Fitraco was also allowed to enter the property of Eye On Malaysia Sdn Bhd (EOM) in Malacca to remove the equipment.

High Court judge Anantham Kasinather made the decision in chambers yesterday after hearing submissions from all three parties.

Fitraco, a leisure equipment leasing company, initiated proceedings against MST Ad Suria on Sept 15 last year to take over the ferris wheel after MST Ad Suria failed to repay a RM17 million loan, which was for the rental and freight of the ferris wheel to Malaysia in 2006.

It was installed at Taman Tasik Titiwangsa here before being transferred to the mouth of Sungai Malacca in September 2008, where it started operating a month later.

The 60m-high Ferris wheel closed its doors to the public on Jan 7 when Fitraco's lawyers and receivers enforced a Nov 26 injunction granted by the High Court against MST Ad Suria and EOM.

The injunction was for Fitraco to enter the site and gain custody of the ferris wheel to protect its interest pending the outcome of proceedings.

Yesterday, Anantham also ordered MST Ad Suria and EOM to pay costs of RM35,000 and RM10,000 respectively to Fitraco.

He also ordered Fitraco to restore EOM's property to its original condition after removing the Ferris wheel.

Cheah Soo Chuan and Leonard Yeoh represented Fitraco while Aziriza Mohd Zaid and Adillah Ahmad Nordin appeared for MST Ad Suria and EOM respectively.