Country Heights defaults on RM89.67 million payment for Islamic financing facilities
Country Heights attributed the default to differences in cash flow timing due to delays in client payments, resulting in a temporary cash flow constraint.
Country Heights attributed the default to differences in cash flow timing due to delays in client payments, resulting in a temporary cash flow constraint.
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.
Country Heights announced the 68-year-old's resignation as the group's executive chairman on Feb 3, saying it was “to cater for change management for the transformation of the group.
KUALA LUMPUR (Oct 7): Country Heights Holdings Bhd has entered into five heads of agreements (HoAs) to acquire assets from its executive chairman and controlling shareholder Tan Sri Lee Kim Yew’s private investment holdings.
KUALA LUMPUR (Oct 3): Country Heights Holdings Bhd (CHHB) founder Tan Sri Lee Kim Yew recently announced that he wants to focus on the blockchain and cryptocurrency space.
KUALA LUMPUR (Oct 16): Metronic Global Bhd’s board of directors will meet today to consider a request by its largest shareholder, Tan Sri Lee Kim Yew, for the appointment of an independent team of auditors to conduct a special audit on several corporate exercises undertaken by the company this year.
KUALA LUMPUR (Jan 25): Country Heights Holdings Bhd said today its executive chairman and major shareholder Tan Sri Lee Kim Yew (pictured) has agreed to a further extension of the tenure of a loan for another 12 months until Jan 21, 2020.
SERI KEMBANGAN (Nov 8): Shareholders of Country Heights Holdings Bhd (CHHB) have given the thumbs-up to its proposal to issue its own initial coin offering (ICO) called 'Horse Currency' which is backed by the group's existing assets.
SERI KEMBANGAN (Oct 2): While the government is asking property developers to lower home prices following the Sales and Service Tax (SST) exemption on construction services and building materials, industry players said lower prices can be achieved if issues such as labour shortage and the lofty compliance and development costs are addressed.
KUALA LUMPUR (July 10): As competition intensifies across the world for companies to become the next disruptor in their industries, it is important for business leaders to focus on value-based disruptions.