Abandoned project heading for revival

THERE is light at the end of the tunnel for purchasers of the abandoned Taman Perindustrian Subang Mewah project. Following overwhelming support by more than 90% of purchasers present and voting at a court convened meeting on Dec 20, the stage is now clear for the revival of the project. 

Liquidators of Korakyat Plantations Sdn Bhd (in liquidation) said that the company was awaiting the court's sanction for the proposed scheme of arrangement, which would under Section 176 of the Companies Act, 1965, give the scheme protection from its creditors.