Berjaya Land's unit files notice of arbitration against Beijing SkyOcean
19 Jan 2018 / 20:01 H.
PETALING JAYA: Berjaya Land Bhd today announced that 51%-owned Berjaya (China) Great Mall Recreation Centre (GMOC) has submitted a Notice of Arbitration to the Hong Kong International Arbitration Centre against Beijing SkyOcean International Holdings Ltd and guarantors, SkyOcean Holdings Group Limited and Zhou Zheng, to seek recovery of the RMB974.07 million (RM599.04 million) due and other reliefs.
The action follows a notice of demand sent to Beijing SkyOcean and the guarantors to pay the outstanding payment and accrued late payment interest in December 2017.