Bintai Kinden agrees to RM58.6mil debt settlement with KTIMB

Bintai Kinden Corp Bhd managing director cum CEO Datuk Tay Chor Han

KUALA LUMPUR: Bintai Kinden Corp Bhd’s (BKCB) wholly-owned subsidiary, Optimal Property Management Sdn Bhd (OPM) has accepted an interim settlement proposal (ISP) with Kolej Teknologi Islam Melaka Bhd (KTIMB) with regards to the default and outstanding debts of RM58.6mil as of December 2023.

According to the mechanical and electrical (M&E) engineering services specialist, the agreement entailed an immediate disbursement of RM1.5mil to OPM by Jan 30, and a series of six-monthly RM250,000 per month instalment totalling an additional RM1.5mil from January to June 2024.