Hong Seng Consolidated Bhd’s wholly-owned subsidiary AIMAX Capital Sdn Bhd has entered into debt settlement agreements totalling RM63.61 million with four borrowers.
In a filing with Bursa Malaysia, the group said AIMAX Capital signed the agreements on Thursday with Datuk Liu Han Ming, Von Victory Sdn Bhd, Chia Yan Mei, and Nah Choon Jeck.
The settlement involves the full and final discharge of the outstanding principal debt, which will be satisfied through the transfer of 184 serviced apartment units located in Kajang, Selangor. The properties carry an agreed total value of RM62.48 million.
This results in a remaining differential sum of RM1.12 million under the overall RM63.61 million debt settlement.
Liu Han Ming’s RM36.95 million debt will be settled with 109 units valued at RM36.40 million, leaving a balance of RM548,193.95. Von Victory Sdn Bhd’s RM6.17 million will be settled with 18 units worth RM6.06 million, with a RM114,570.27 differential.
Chia Yan Mei’s RM6.24 million obligation will be settled with 14 units valued at RM6.11 million, leaving RM127,035.26 in difference. Meanwhile, Nah Choon Jeck’s RM14.24 million debt will be settled with 43 units worth RM13.91 million, resulting in a RM332,507.88 gap.
Under the agreement, AIMAX Capital will assign its rights and interests in the properties to its wholly owned subsidiary AIMAX Assets Sdn Bhd. The unit, which is involved in investment holdings and property investments, will manage and streamline ownership of the assets.
