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DRB-Hicom calls off sale of The Verge
It cites inability of buyer to fulfil its contractual obligations on completion date
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Kalpana Rashiwala
Published Thu, May 5, 2016 · 09:50 PM
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 contractual obligations on the agreed completion date, DRB-Hicom said in a regulatory filing with Bursa Malaysia on Thursday.
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