KUALA LUMPUR: The Court of Appeal has ruled that Sunway Real Estate Investment Trust (SunREIT) is the rightful owner of Putra Place building and dismissed the appeal by Metroplex Holdings Sdn Bhd.

Sunway group in a statement on Tuesday, Sept 27 said the Court of Appeal had dismissed Metroplex's appeal against the High Court's orders granted on June 28.

"With the dismissal of the appeal, it is affirmed that OSK Trustees Bhd (as trustee for SunREIT) is the rightful owner of Putra Place," it said.

Sunway REIT Management Sdn Bhd, the manager of SunREIT, and the trustee will take delivery of control and management of Putra Place and to enforce the High Court's order that Metroplex is to pay mesne profits from April 19, until it hands over the building.

Sunway group said OSK Trustees, on behalf of SunREIT, had successfully bid for Putra Place on March 30 at a public auction held at the High Court for RM513.94 million where the reserve price was fixed by the High Court.

SHARE
SPONSORED CONTENT
Pavonia fuses serenity and modernity in spacious landed homes for families

Built by award-winning developer Worldwide Property, the property arm of Worldwide Holdings Bhd, Pavonia intertwines modern living with the nostalgic charm of a tropical landscape spanning 8.2 acres.

read more