KUALA LUMPUR: Singapore-listed Sim Leisure Group Ltd has terminated its agreement with Bandar Malaysia Sdn Bhd (BMSB) to develop an ESCAPE theme park in Kuala Lumpur.
The theme park operator, in a filing with the Singapore Exchange, Sim Leisure said it had on Dec 16, 2024, received a notice of termination for the agreement from the BMSB,
Sim Leisure said BMSB shall refund the security deposit of RM350,000 within 30 days from the date of termination.
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“As the theme park operation has yet to commence, the owner (BMSB) shall also be obligated to refund or repay the advance payment of RM1mil to Sim Leisure Escape following the termination of the agreement by the owner,” it said.
In addition, Sim Leisure is also seeking compensation for all the capital expenditures they have invested to date, although the exact amount has not been specified.
