KUALA LUMPUR: Berjaya Corporation Bhd has received the green light from Bursa Malaysia Securities Bhd to suspend trading of its securities today and tomorrow pending the announcement of a transaction.
Recently, its unit Berjaya Land Bhd’s subsidiary Berjaya (China) Great Mall Co Ltd (GMOC) won its legal battle against Beijing’s SkyOcean International Holdings Ltd to secure payment of 974.1 mil renminbi (RM595.5 mil) in China.
On Dec 8, 2017, it announced that following the disposal of a mall under construction in Sanhe City, Hebei province to Beijing SkyOcean, the latter had failed to pay the outstanding balance amount owing to GMOC.
Meanwhile, on the group’s website, it was announced that on Feb 7, Berjaya Land had inked an agreement with the Yangon Regional Government for a mixed development project in Myanmar through its subsidiary, BDS Smart City Company Ltd.
The project – BDS Smart City – has a gross development value of US$746 mil (RM3.05 bil) that will comprise affordable housing, high and mid-end condominiums, commercial units and institutional facilities. – June 1, 2020, Bernama
