PETALING JAYA: Ho Hup Construction Co Bhd
will buy Zen Courts Sdn Bhd’s 30% stake in its subsidiary Bukit Jalil Development Sdn Bhd for RM35.97mil, after a prolonged struggle to have the rights to develop 60 acres of prime land in Bukit Jalil.
In its filing with Bursa Malaysia yesterday, Ho Hup Construction said the High Court had fixed the price for the acquisition. In March 2012, the High Court has ordered Ho Hup Construction to buy out Zen Courts following breach of mutual trust between Bukit Jalil Development’s two shareholders – Ho Hup Construction and Zen Courts.
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