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Aeon Co. Scraps RM107m Purchase Plan

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KUALA LUMPUR: Aeon Co. (M) Bhd has terminated a sale and purchase agreement with the Datuk Bandar Kuala Lumpur and Dwitasik Sdn Bhd to acquire a piece of land with a proposed shopping centre for RM107.22mil.

Aeon said on Tuesday the Feb 18, 2009 agreement was terminated due to the non-fulfillment of the conditions precedent.

Under the RM107.22mil aborted deal, Aeon was to acquire 6.25 acres or 272,250 square feet of land for RM27.22mil and a shopping centre and department store from RM80mil.

The landowner was the Datuk Bandar KL while the vendor was Dwitasik, which would build and sell the completed units, forming part of the township known as Bandar Sri Permaisuri.

 

By The Star Online

Source: http://biz.thestar.com.my/news/story.asp?file=/2012/7/17/business/20120717192810&sec=business