KUALA LUMPUR: Benalec Holdings Bhd has terminated its sale and purchase agreements (SPAs) with Highbond Capital Sdn Bhd and Gigayear Revenue Sdn Bhd for the disposal of eight pieces of land for RM54.3mil cash.
In a filing with Bursa Malaysia, Benalec said its unit Heritage Land Sdn Bhd (HLSB) had issued a notice to the purchasers to terminate the SPAs due to the purchasers’ failure to settle the payment of balance of sale amounting to RM48.8mil on Dec 10.
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