Paragon Union said the disposal provides an opportunity for the group to unlock and realise the value of the property, which it expects to record a net pro forma gain of RM11.
Ranjan Chandran, the lawyer for the 36 buyers who are seeking to be interveners to oppose the CVA, submitted on Wednesday (Jan 4) that the CVA was usually intended for ailing companies and not for abandoned developments.
Move “is part of the company’s succession plan and is in line with its growth strategy, after commemorating its 20th anniversary last year”.
DONE DEAL: Bungalow, Rimba Valley, Kota Damansara, Selangor DONE DEAL: Semi-detached, Bukit Bandaraya, Shah Alam, Selangor Jalan Kovil Hilir, Sentul, is an upcoming commercial area with new building projects coming up in the vicinity.
SunCon said that barring any unforeseen circumstances, the contract is expected to contribute positively to the group's earnings for the financial year ending Dec 31, 2023 onwards.
The proposal comes as the 10-year master lease agreement that commenced on Dec 31, 2012 is set to expire on Dec 30 this year.
The agreement sets out the framework for negotiations and discussions between the parties to establish the detailed terms and conditions about the contractor's performance in design, engineering, procurement, manufacture, supply, construction, erection, testing and commissioning of the electric generation facility.
The “highly anticipated luxury co-working and event space’s modern and trendy interior” will be “designed, built and managed by Colony with Sunsuria overseeing as a stakeholder”.
DONE DEAL: Condominium, Sunway Palazzio, Taman Sri Hartamas, Kuala Lumpur DONE DEAL: Terraced house, Kuala Terengganu, Terengganu The bungalow is strategically located in the exclusive and affluent neighbourhood of Kota Damansara, with an unobstructed nature and forest view.
From the hectic rat race to the inescapable crawling traffic amid the concrete jungle – city life tends to leave you drained and longing for the next getaway in the great outdoors.
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