Shares in IPSA Group (LON:IPSA) were the best performers early doors after a favourable results in a Malaysian court for the power generation firm.
The appeal of Iris Ecopower Sdn Berhad against a previous court decision in IPSA’s favour was turfed out on Friday morning by the Malaysian Court of Appeal. The Court also awarded costs in favour of IPSA.
The dispute is over a non-refundable deposit paid by Iris for the purchase of turbines that subsequently fell through.
Iris has 30 days in which to make a final appeal to Malaysia's federal court.
"I am very pleased that the Malaysian courts have yet again dismissed the Iris claim,” said Peter Earl, acting chief executive of IPSA.
“This is an important victory for IPSA," he added.
Shares were up 15.3% at 2.08p in the first hour of trading on Friday morning.