EcoWorld takes full control of Puncak Alam-based developer after buying out EPF's 40% stake
Following the acquisition, EcoWorld Malaysia will fully consolidate Paragon Pinnacle’s balance sheet — instead of the 60% share of results previously.
Following the acquisition, EcoWorld Malaysia will fully consolidate Paragon Pinnacle’s balance sheet — instead of the 60% share of results previously.
The Ministry of Finance (MOF) said the provision was attributed to EPF’s 20% stake in the JV firm Battersea Project Holding Company Ltd (BPHCL).
"We were caught by surprise (with the mandatory EPF contribution).
“This translates to an additional financial burden of an estimated not less than RM110 million per month for the construction industry.
"IDTSB is currently negotiating a settlement plan with EPF to resolve the amount claimed under the writ," it said.
In 2016, Ekovest said it was disposing of its 40% equity interest held in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi) to the EPF for RM1.
According to a joint statement, the co-investors have signed a sale and leaseback agreement with Osram Opto Semiconductors Sdn Bhd.
Lim is a chartered accountant with over 40 years of experience in risk management, banking and accounting.
Setiausaha Pertubuhan Akitek Malaysia Arkitek Malaysia (PAM) dan pemeriksa bangunan yang diiktiraf oleh Architect Centre, Anthony Lee Tee, telah menyeru pihak berkuasa untuk mencari punca asal kebakaran terkini di KWSP dan mengeluarkan laporan itu kepada umum "untuk mengelakkan spekulasi".