Firm calls off deal to buy land in Johor from Iskandar Waterfront
24 Sep 2015 / 05:37 H.
PETALING JAYA: Tropicana Danga Senibong Sdn Bhd has aborted a deal to acquire a piece of land in Plentong, Johor Baru, for RM444.3 million from Iskandar Waterfront City Bhd (IWC).
IWC announced in a filing with Bursa Malaysia Bhd yesterday that Tropicana Danga elected to exercise its right to terminate the sale and purchase agreement by reason of non-fulfilment of conditions precedent.
No other details were given.
IWC added that a proposed joint venture with Goldbust United Sdn Bhd, a wholly owned subsidiary of Tropicana Corp Bhd for the development of the property, has also been aborted.