Ho Hup seeks extension until Aug 4 to submit revamp plan

KUALA LUMPUR: Ho Hup Construction Co Bhd has sought an extension of four more months until Aug 4 to submit its regularisation plan.

The company said it had on Tuesday, March 30 applied to Bursa Malaysia Securities for the further extension to submit the plan under the provision of Practice Note 17 of Bursa Securities’ Listing Requirements

The new board of directors of Ho Hup was scheduled to meet Malton Bhd on Tuesday to renegotiate the joint development agreement (JDA) concerning the former’s only remaining landbank and its jewel, a 60-acre parcel in Bukit Jalil.

According to Ho Hup’s new board, a renegotiation with Malton is necessary given that it was the previous board that had signed the JDA with Malton.

With the previous board members having been removed a few hours after the JDA was signed on the morning of March 17, the present board has little information regarding the deal.
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