PETALING JAYA: Hong Seng Consolidated Bhd has proposed to settle RM63.61mil owed to its wholly owned subsidiary, AIMAX Capital Sdn Bhd, through the transfer of 184 serviced apartment units in Kajang with a total agreed value of RM62.48mil.
In a filing with Bursa Malaysia, Hong Seng said AIMAX Capital had entered into debt settlement agreements with four borrowers – Datuk Liu Han Ming, Von Victory Sdn Bhd, Chia Yan Mei and Nah Choon Jeck – for the full and final settlement of the outstanding principal indebtedness.
Hong Seng said the debt will be settled via the transfer of serviced apartments at Louvre Residence, Lebuhraya Silk, Kajang, to AIMAX Capital and/or its nominees.
The difference of RM1.12mil between the total debt and the agreed settlement value will be waived by the parties.