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NewsVendor rejects S P Setia’s bid for more time over RM330m land purchase
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Vendor rejects S P Setia’s bid for more time over RM330m land purchase
by hlk Tue 13 Dec 2011, 19:35
KUALA LUMPUR (Dec 13): S P Setia Bhd’s request for more time to
fulfill the conditions in its purchase of 1,010.5 acres of land in Ulu
Langat, Selangor for RM330.13 million was rejected by the vendor Ban
Guan Hin Realty Sdn Bhd.
S P Setia said on Tuesday Ban Guan Hin Realty did not agree to an
extension of the period to fulfill the conditions, including securing
the Estate Land Board’s approval for the sale and transfer of the land
to the purchaser.
“The purchaser is currently seeking legal advice on its position
under the sale and purchase agreement and will seek the appropriate
relief from the court, if necessary,” it said.
fulfill the conditions in its purchase of 1,010.5 acres of land in Ulu
Langat, Selangor for RM330.13 million was rejected by the vendor Ban
Guan Hin Realty Sdn Bhd.
S P Setia said on Tuesday Ban Guan Hin Realty did not agree to an
extension of the period to fulfill the conditions, including securing
the Estate Land Board’s approval for the sale and transfer of the land
to the purchaser.
“The purchaser is currently seeking legal advice on its position
under the sale and purchase agreement and will seek the appropriate
relief from the court, if necessary,” it said.
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