The Board of Directors of Benalec Holdings Berhad (“Benalec” or the “Company”) is pleased to announce that the Company, Benalec Sdn Bhd (“BSB”) (its wholly-owned subsidiary) and all other subsidiaries of the Company, had, on 18 April 2023, signed a settlement agreement (“Settlement Agreement”) with Atlantic Property Sdn Bhd (“APSB”), Oceanfront Land Sdn Bhd (“OLSB”), Oceanic Sdn Bhd (“OSB”), Oceanview Property Sdn Bhd (“OPSB”) (“collectively referred to as “4 Cos”) and Sentosacove Sdn Bhd (“SSB”).
Please refer to the attachment for details of the announcement.
This announcement is dated 18 April 2023.