BCB Bhd enters in MoU with Global Earnest to settle debt

KUALA LUMPUR: BCB Bhd announced on Tuesday, Oct 26 that it has entered into a Memorandum of Understanding (MOU) with Global Earnest Sdn Bhd for it to pay back the Group for contract work undertaken and completed amounting to RM47,996,169.

To settle the amount owing, Global Earnest, Marvel Plus Development and Wawasan Perumahan (Johor) Sdn Bhd, will dispose of unsold units of U Mall, a double-storey shopping complex located at 45, Jalan Pulai 20, Taman Pulai Utama in Johor Bahru.

U Mall has an estimated market value of RM49.4 million.

Henry Butcher Malaysia (Johor) Sdn Bhd is handling the full report and valuation.

BCB Berhad is engaged in investment holding, property development and hotel operations.