Perennial Real Estate Holdings has filed a Court application to wind three of its associated companies which hold the assets of Capitol Singapore.
The associated companies are Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management.
The three entities together hold the assets of Capitol Singapore, an integrated development located at the junction of Stamford Road and North Bridge Road, Singapore.
PREHL says the basis of these applications is that “the shareholders and management of the Capitol entities are in deadlock and that their relationship has been adversely affected such that the shareholders cannot realistically continue to work together constructively.”
PREHL owns an effective 50% stake in each of the associated companies, and ultimately, in the Capitol Project.
Chesham Properties holds the remaining 50% shareholding in the Capitol entities and the Capitol project.
PREHL and Chesham have been unable to agree on a number of key issues relating to the Capitol project.
“As a result, in the last few months, the Capitol project has become increasingly deadlocked at both the board and shareholder levels.”
PREHL says the prevailing state of affairs is not conducive to the business interests of the Capitol project and their respective shareholders.
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The associated companies are Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management.
The three entities together hold the assets of Capitol Singapore, an integrated development located at the junction of Stamford Road and North Bridge Road, Singapore.
PREHL says the basis of these applications is that “the shareholders and management of the Capitol entities are in deadlock and that their relationship has been adversely affected such that the shareholders cannot realistically continue to work together constructively.”
PREHL owns an effective 50% stake in each of the associated companies, and ultimately, in the Capitol Project.
Chesham Properties holds the remaining 50% shareholding in the Capitol entities and the Capitol project.
PREHL and Chesham have been unable to agree on a number of key issues relating to the Capitol project.
“As a result, in the last few months, the Capitol project has become increasingly deadlocked at both the board and shareholder levels.”
PREHL says the prevailing state of affairs is not conducive to the business interests of the Capitol project and their respective shareholders.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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