KUALA LUMPUR (June 20): UDA Holdings Bhd has received a memorandum from 48 tenants of BB Plaza here, demanding the property developer furnish more information on the status of the real estate.
UDA is the owner of BB Plaza, the location of which is expected to form a portion of the proposed mass rapid transit (MRT) station at Jalan Bukit Bintang.
In a statement on Tuesday, UDA said its chief operating officer Salamah Ismail had received the memorandum from Hassan Saad, who is the spokesman for the tenants of the 33-year-old property.
"UDA wishes to stress that the issue also involves the company and its estimated 400 employees, apart from tenants and other stakeholders," UDA said.
According to UDA, it has yet to receive official confirmation from its shareholder, the Finance Ministry, on the status of BB Plaza.
UDA said it is still unclear for now whether the building will be maintained as it is, or demolished, and whether the ownership of the property will be transferred to another party.
However, UDA said it had this month issued a tenancy termination notices to three food and beverage entities — Starbucks Coffee, Gloria Jean's Coffees and Hot & Roll. UDA said the notices were issued following orders from Mass Rapid Transit Corp (MRT Corp).
"The remaining tenants at BB Plaza can continue their operations as usual until further notice and UDA will try to always ensure that the tenants' welfare is taken care of," UDA said, adding that it will constantly update tenants on the status of BB Plaza.
According to earlier news reports, MRT Corp had planned to relocate the tenants of BB Plaza by 2013 to accommodate the proposed development of the MRT infrastructure.
This story appeared in The Edge Financial Daily on June 20, 2012.
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