Azmi & Associates Facilitates Two (2) Main Agreements for Amanah Raya Berhad in Nusa Damai, Johor.

On April 18, 2024, Azmi & Associates played a pivotal role in facilitating two material agreements aimed at aiding Amanah Raya Berhad, through its wholly owned subsidiary AmanahRaya Development Sdn. Bhd. (“ARD”), in recovering impaired financing for Lakehill Resort Development Sdn Bhd (“LHRD”).

LHRD operates as the joint venture investee company of Oriental Pearl City Properties Sdn Bhd (“OCPC”), a wholly owned subsidiary of Malaysia Pacific Corporation Berhad (“MPCB”). The financing is secured by 188.4 acres of land in Nusa Damai (“the Property”), owned by Taman Bandar Baru Masai Sdn Bhd (“TBBM”), a wholly owned subsidiary of MPCB.

The first agreement, referred to as the Deed Global Settlement Agreement, was successfully negotiated among ARD, MPCB, OCPC, LHRD, TBBM, and the purchaser Ekuiti Idaman Sdn Bhd (“EISB”), with the objective of resolving all claims and issues pertaining to the Property.

Azmi & Associates, led by Partner Sallahudin Abdullah, Managing Associate Alfred Tan Hsiong Vei, and Associate Jeremy Pang Jing Yang, provided invaluable legal counsel and expertise throughout the negotiation process, contributing significantly to the successful conclusion of these agreements.

Should you require legal assistance or wish to explore our services further, please feel free to visit our website, email us, or contact our office directly.

Azmi & Associates is committed to serving as your comprehensive corporate solution center for all your legal needs. We eagerly anticipate the opportunity to assist you.

 

Corporate Communications, Azmi & Associates – 22 April 2024

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