Weekly Industry News

PR1MA may be dissolved

Weekly Industry News

Public housing agency Perbadanan PR1MA Malaysia may be dissolved, pending a due diligence and turnaround plan which hinges on the take-up rate of its units becoming actual sales.

The turnaround plan is to help PR1MA make good its obligations, or a “substantial part” of whatever it has contracted.

It will also try “as much as possible” not to default on its contracts, PR1MA chairman Tan Sri Eddy Chen Lok Loi said.

“We are looking very hard, at the end of the day, to meet our obligations or substantial part of our obligations.

Media Title: The Star

Date: 3 May 2019

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