KUALA LUMPUR (Nov 6): Euro Holdings Bhd said the furniture maker and three of its subsidiaries, as well as its managing director Datuk Seri Lim Teck Boon, are being sued for allegedly using another company to obtain banking facilities.

Surian Creation Sdn Bhd, which filed the lawsuit at the High Court in Melaka, is seeking a payment of RM19.29 million from Euro Holdings and the other defendants, according to Euro Holdings' filing with Bursa Malaysia on Monday.

It said Surian Creation is claiming that the defendants had conspired together by "seizing full control" over Surian Creation and then using the company to obtain banking facilities to be used for the benefit of the defendants.

“The company categorically denies any impropriety alleged/insinuated by Surian Creation through the action. In this regard, the company will engage legal counsel to defend the company against the action filed by Suria Creation.

“The company’s position is that the alleged claims made by Surian Creation are vexatious, frivolous and without merit," said Euro Holdings.

Euro Holdings shares closed unchanged at 7.5 sen, giving the group a market capitalisation of RM90.27 million.