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NewsCaveats lifted on Mah Sing’s Bandar Meridin East township land
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Caveats lifted on Mah Sing’s Bandar Meridin East township land
by Cals Thu 23 Jan 2014, 18:34
| Caveats lifted on Mah Sing’s Bandar Meridin East township land |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Thursday, 23 January 2014 09:57 |
KUALA LUMPUR: The Johor High Court yesterday ordered the removal of the private caveats lodged by Ang Swee Kang on lands owned by Bistari Land Sdn Bhd, which had signed agreements to sell the said lands to Mah Sing Group Bhd.
According to a statement by Mah Sing, the removal of the caveats is to be effected by the Land Office within two days upon receipt of the Sealed Judgement. Additionally, Ang has been ordered to pay Bistari Land RM10,000 as costs.
The land in question is part of Mah Sing’s Bandar Meridin East, a planned 1,352 acre freehold township in Pasir Gudang, Johor. The group had acquired the land in September last year for RM411.2 million cash by signing the sales and purchase agreement (SPA) and supplemental agreement with Bistari Land.
It is understood that the private caveats were entered by Ang before Bistari Land signed the agreements with Mah Sing. Ang, who is the chief executive officer of Al-Cube Sdn Bhd, a Malaysian and Hong Kong joint venture company, had previously negotiated to buy the said land from Bistari Land.
This article first appeared in The Edge Financial Daily, on January 23, 2014.
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