Berjaya Land issues notice of demand to Beijing SkyOcean for RM601m

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KUALA LUMPUR: Berjaya Land Bhd's 51% owned Berjaya (China) Great Mall Co. Ltd (GMOC) has issued a notice of demand to  Beijing SkyOcean International Holdings Ltd for a payment of 974.07mil renminbi (RM601.78mil).

Berjaya Land said Friday the remaining amount was due from Beijing SkyOcean following the sale of Berjaya (China) Great Mall Recreation Centre to the latter.

It added the RM601.78mil was due on or before Nov 28 and to date  Beijing SkyOcean had not remitted the payment.

Beijing SkyOcean is a unit of SkyOcean Holdings Group Ltd where Zhou Zheng is a major shareholder of SkyOcean Holdings. 

Both SkyOcean Holdings and Zhou are guarantors for the performance of the obligations by Beijing SkyOcean following the sale of the Great Mall. 

Berjaya Land has given Beijing SkyOcean and the guarantors to pay to GMOC the outstanding amout and accrued late payment interest within three days upon receipt of the notice.