News about Country Heights

“For the first time in 40 years, the group has missed the deadline as required by Bursa Malaysia.

Country Heights said MBSB is seeking the High Court's approval to sell the two pieces of land, which are charged to MBSB by the property developer's  indirect wholly-owned units, Mines Waterfront Business Park Sdn Bhd (MWBP) and Mines International Exhibition Centre Sdn Bhd (MIEC).

The appointment follows the recent stepping down of Datuk Mircle Yap Ching Chai, who will now serve as a non-independent non-executive director of the group, the property developer said in a statement.

DONE DEAL: Serviced residence, Residensi Damansara Glomac, Kuala Lumpur DONE DEAL: Bungalow, Kajang, Selangor Known as The Beverly Hills of Malaysia, Country Heights at Kajang, Selangor, is centred on a beautifully landscaped setting, enveloped by an abundance of space and lush natural surroundings.

In a bourse filing on Tuesday (Aug 22), Country Heights said the group had on Monday (Aug 21) received a writ of summons, statement of claim and notice of case management from the solicitors acting for MBSB.

Country Heights attributed the default to differences in cash flow timing due to delays in client payments, resulting in a temporary cash flow constraint.

The group said it is in talks with the liquidator and MBSB Bank to resolve the default amicably, adding that it is working towards the settlement of the liquidation.

He does not own directorships in any other public listed company.

In a press conference on Thursday (April 13), Lee -- who is property developer Country Heights Holdings Bhd's founder and largest shareholder -- said the issue was escalated by Patrick Healy, a former officer of US-based Club Excellence Inc which had already been wound up.

According to Malaysia Department of Insolvency's website, e-insolvensi, the tycoon received the bankruptcy notice issued by the Shah Alam High Court on Jan 26 this year.