A 7.4-acre tract of freehold commercial land in Kuala Lumpur city has finally been put up for sale by tender, after a series of legal battles spanning 27 years and a few countries.
The legal tussle between businessman Cheah Theam Swee and creditors sailed through both the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis. It has now culminated with Deloitte Corporate Solutions Sdn Bhd being appointed as liquidators with Henry Butcher Real Estate Sdn Bhd to assist in its disposal. The sale will be carried out via a tender exercise. The closing date is May 23, according to Henry Butcher chief operating officer Tang Chee Meng.
Cheah’s major asset was Malaysia-based United Securities Sdn Bhd, which owns the 7.4 acres through subsidiary City Centre Sdn Bhd, which is in liquidation.
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The legal tussle between businessman Cheah Theam Swee and creditors sailed through both the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis. It has now culminated with Deloitte Corporate Solutions Sdn Bhd being appointed as liquidators with Henry Butcher Real Estate Sdn Bhd to assist in its disposal. The sale will be carried out via a tender exercise. The closing date is May 23, according to Henry Butcher chief operating officer Tang Chee Meng.
Cheah’s major asset was Malaysia-based United Securities Sdn Bhd, which owns the 7.4 acres through subsidiary City Centre Sdn Bhd, which is in liquidation.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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