Capital World Unit Receives Demand Letter from Tenaga Nasional

MT Newswires

2024/09/26

Capital World (SGX:1D5), a property development firm, said its subsidiary, Capital City Property, received a Letter of Demand from Tenaga Nasional regarding an outstanding payment of 5.4 million ringgit for electricity bills related to the Capital City Mall, which closed in 2020.

The demand requires payment within 14 days, or Tenaga Nasional may initiate legal action against Capital City Property, according to a Wednesday filing on the Singapore Exchange.

Previously, Capital City Property had arranged an installment plan to pay 10,000 ringgit monthly, concluding with a final payment of 5.3 million ringgit due in April 2025.

The company has complied with this plan. Capital City Property is negotiating with Tenaga Nasional to reformulate the repayment terms and extend the payment deadline.

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