KUALA LUMPUR: Four companies have again sought a court ruling to enforce four conditional sale and purchase agreements (SPAs) signed in 2003, requiring Gopeng Bhd to dispose of 885 ha of plantation land in Kota Bahroe Group Estate, Perak for RM37.15 million.
The four plaintiffs -- Avenue Rating Sdn Bhd, Pesat Padu Harta Sdn Bhd, Keyline Space Sdn Bhd and Line Mission Sdn Bhd -- had filed an appeal on Dec 15 against a High Court ruling which had dismissed their application with costs on Nov 16.
To recap, Gopeng had entered into the SPAs on Dec 3, 2003 with the four parties to dispose of the remaining land to them.
Kota Bahroe Group Estate is a plantation division of Gopeng. Its main activity is cultivation of oil palm and the plantation was estimated to be able to produce 15,000 to 16,000 tonnes of palm oil per year. It contributed RM3 million to RM4 million in revenue per annum to Gopeng.
The plantation land is located mostly in Mukim Teja, Mukim Sg. Trap and Mukim Sg. Raia in Daerah Kinta, Ipoh, Perak Darul Ridzuan. As of December, 2003, the oil palm trees were 70% matured and 30% not matured.
However, due to the non-fulfillment of the conditions within three months from the date of the SPAs, Gopeng had deemed the SPAs had been terminated.
On May 27, 2004, Gopeng's solicitors notified the four companies that the SPAs had lapsed and were no longer binding.
On Sept 9, 2004, the four had sought to enforce the terms of the SPAs individually. The High Court at its hearing on Nov 16, 2009 dismissed the plaintiffs' application with costs.
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