Widad sells Damansara Heights office building for RM41.5m to cut borrowings
The building is about 28 years old and stands on land measuring 1,607.
The building is about 28 years old and stands on land measuring 1,607.
After the sale, Urusharta Jamaah will no longer hold any stake in Pintaras Jaya.
The contract lasts 40 months, with completion expected by July 9, 2028.
Ho Hup said details of the scheme of arrangement will be announced later.
Of the West Coast Expressway’s 11 sections, eight have been completed and begun operations — the most recent being Section 2, which commenced in January this year.
The construction company said it received a demand notice from Insas Credit & Leasing Sdn Bhd over Ho Hup’s role as guarantor for its wholly-owned subsidiary Bukit Jalil Development Sdn Bhd, which failed to repay the outstanding loan amount.
Cheng Kiat, 77, established Bina Puri in 1975 and has served on its board since Nov 5, 1990.
The projects involve two serviced apartment blocks, which are a 43-storey tower with 848 units (Plot 1) and a 41-storey tower with 735 units (Plot 2).
The contract involves the construction of residential units across two phases.
The contract was awarded to Ageson Kensetsu Sdn Bhd, a wholly-owned subsidiary of TXCD, by Vestland Resources Sdn Bhd.