Friday, 19 July 2013

Ho Hup buys Zen Courts' stake in Bukit Jalil Devt

Ho Hup Construction will buy Zen Courts Sdn Bhd's 30% stake in Bukit Jalil Development Sdn Bhd (BJD) for RM35.97m. Ho Hup said the High Court had fixed the price for the acquisition of the stake in BJD, which is a subsidiary of Zen Courts. The High Court had in Mar-2012, orders Ho Hup to buy out Zen Courts following the breach of mutual trust between BJD's shareholders - Ho Hup and Zen Courts.While the buyout would give Ho Hup full control of BJD and an exit for Zen Courts, most importantly is that BJD itself is undertaking a development project in Bukit Jalil. The project involves a 60-acre freehold site.(Starbiz)

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