Axis Reit Sues Ex Tenant For Rm105mil Over Future Rental Payments

Axis REIT said it terminated the lease agreement with Yongnam Engineering Sdn Bhd on May 8, 2023, after it defaulted on rental payments. (Bernama pic)PETALING JAYA: Axis Real Estate Investment Trust (Axis REIT) has filed a lawsuit against its former tenant at the Axis Steel Centre in Nusajaya, Johor over unexpired rental payments totalling to RM105.4 million.
The suit was filed by its trustee, RHB Trustees Bhd, at the Johor Bahru High Court yesterday against Yongnam Engineering Sdn Bhd (YESB).
Axis REIT said in a Bursa Malaysia filing that the lease agreement signed with YESB was terminated on May 8 after it defaulted on rental payments. The lease agreement was signed in November 2014.
RHB Trustees took the civil action against YESB and its corporate guarantor, Yongnam Holdings Ltd, over the RM8.46 million unpaid rental and other charges owed as of Dec 21, 2022.
Axis REIT also commenced a distress action against the construction company for failing to settle its rental for the months of January and February amounting to RM2.35 million, leading to seizure and sale of its property worth RM1.2 million on July 24.
The RM1.2 million would offset a portion of YESB’s outstanding sums due and owing to the trustee under the lease agreement.
“Further to the termination notice and the completed distress action, the trustee intends to recover the outstanding rental payments from YESB including rentals for the unexpired period of the lease agreement of RM105.4 million,” it said.
It also said its manager, Axis REIT Manager Bhd, is currently unable to estimate the financial and operational impact of the litigation on Axis REIT as it is subject to the resolution of the action.
For the second quarter ended June 30 (Q2 FY2023), Axis-REIT’s total trust income fell 6% year-on-year (y-o-y) to RM68.5 million while net trust income declined by 26% y-o-y to RM34.7 million.
Ads by KioskedAt market close today, Axis REIT’s units were down 1 sen or 0.55% at RM1.81, giving it a market capitalisation of RM3.15 billion. - FMT

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2023/09/axis-reit-sues-ex-tenant-for-rm105mil.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini

Selangor Mb Sues Kedah Mb For Defamation Over Vincent Tan Remarks Demands Compensation

papar berkaitan - pada 31/8/2023 - jumlah : 288 hits
In his defamation suit filed at the Shah Alam High Court at noon today Selangor Menteri Besar Datuk Seri Amirudin Shari is seeking for the court to order Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor to pay compensation in the form ...

Time For Tan Sri Muhyiddin To Retire Hamzah Has To Take Over Bersatu Has To Separate From Pas

papar berkaitan - pada 10/9/2023 - jumlah : 198 hits
The Perikatan Nasional or PN lost both the by elections in Pulai and Simpang Jeram Saturday 09 Sep 2023PH won both Pulai and Simpang Jerambecause of bad weather and low voter turnouts Pulai PH polled 48 283 votes PN polled 29 642 votes vote...

Confusion Over Reason For Postponement With Police Says Hadi S Political Secretary

papar berkaitan - pada 4/9/2023 - jumlah : 189 hits
Tan Sri Abdul Hadi Awang filepicKUALA LUMPUR There was confusion over the postponement of the recording of Tan Sri Abdul Hadi Awang s statement by the police says his political secretary Mohd Syahir Che Sulaiman The Bachok MP said that the ...

Dap Rep Defends Pn Man Over Donations For Service Centre

papar berkaitan - pada 1/9/2023 - jumlah : 208 hits
Marina Ibrahim coming to the defence of Jefri Mejan said all criticisms must have merit PETALING JAYA A Selangor assemblyman from Perikatan Nasional has found an unlikely ally in DAP s Marina Ibrahim who defended his poster seeking donation...

Matrimonial Claim Set For Full Syariah Trial Over Jj S Rm2 1b Estate

papar berkaitan - pada 12/9/2023 - jumlah : 188 hits
The Kuala Lumpur Syariah Court is set to hear an RM2 1 billion matrimonial claim over the estate of the late minister Jamaluddin Jarjis Syariah judge Abdul Shukor Abd Hamid today was informed by counsel for the deceased s mother Aminah Abdu...

Amirudin Sues Sanusi For Defamation

papar berkaitan - pada 1/9/2023 - jumlah : 201 hits
The Selangor menteri besar takes his opposite number to court claiming RM10 million for Sungai Klang river cleaning project scandal allegations Selangor menteri besar Amirudin Shari has sued his opposite number in Kedah Sanusi Nor for defam...

Women S Groups Call For Action Over Death Threats Against Lawyer In Kelantan S Shariah Constitutional Challenge

papar berkaitan - pada 25/8/2023 - jumlah : 195 hits
The coalition of women s rights groups said it is appalled and disturbed at the attacks and death threats directed at Nik Elin who is involved in the challenge of the constitutionality and validity of the Kelantan s Shariah provisions Pictu...

Bn Teaches Older Members How To Vote For Ph

papar berkaitan - pada 27/8/2023 - jumlah : 246 hits
Older Umno members are being taught to tick the Pakatan Harapan symbol on the ballot papers in two by elections in Johor on Sept 9 says Barisan Nasional ROMPIN Barisan Nasional is taking active steps to ensure that its supporters vote for t...

Usm To Breed Barn Owls For Rat Control In Padi Fields

papar berkaitan - pada 27/8/2023 - jumlah : 144 hits
Studies have shown that barn owls are highly effective in controlling the rat population in agricultural areas and on the outskirts of cities says USM KOTA BHARU The Kelantan campus of Universiti Sains Malaysia is conducting a pilot project...