Aerial view of Bandar Malaysia site, with Razak City Residence to the left of the airstrip and 1Razak Mansion next to it. — GLENN GUAN/The Star
KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) has denied reports that it is set to take over Bandar Malaysia from the Ministry of Finance in a deal valued at RM10bil.
In a filing with Bursa Malaysia on Monday, KLCCP clarified that it is not involved in the transaction, refuting claims that it is the buyer of the 486-acre Bandar Malaysia land.
"KLCCP wishes to inform that it is not a party to this transaction and is not the buyer as reported," the company said.
KLCC, which has been suspended since 9.00 am, will resume trading in its securities at 10.00 am on Dec 23, 2024.
Meanwhile, Singapore-listed Sim Leisure Group Ltd has terminated its agreement with Bandar Malaysia Sdn Bhd (BMSB) to develop the ESCAPE theme park in Kuala Lumpur.
The theme park operator, in a filing with the Singapore Exchange, Sim Leisure said it had on Dec 16, 2024, received a notice of termination for the agreement from the BMSB,
Sim Leisure stated that BMSB is obligated to refund the security deposit of RM350,000 within 30 days from the termination date.
Additionally, as the theme park operation has not yet commenced, BMSB must also repay an advance payment of RM1mil to Sim Leisure.
The theme park operator is also seeking compensation for the capital expenditures invested to date, although the exact amount has not been specified.
