You are here

DRB-Hicom calls off sale of The Verge

It cites inability of buyer to fulfil its contractual obligations on completion date

BT_20160506_KRVERGE_2264138.jpg
The transaction involving The Verge (above) was to have taken place through a sale of shares in Corwin Holding, which owns The Verge, to Evolutyon Real Estate Investment Holding.

Singapore

MORE than four months after it announced the proposed sale of The Verge mall in Little India, DRB-Hicom has officially called off the deal.

The termination was due to the inability of the buyer, a Singapore-incorporated vehicle controlled by Keith Tang, to fulfil its