Some details about the deal involving the 20 Pykett Avenue building, whose demolition over the weekend caught the MPPP by surprise.
In December 2009, the Mah Sing board announced to Bursa Malaysia that its subsidiary Klassik Tropika had entered into a sale and purchase agreement to acquire the 3.4-acre freehold property from Khaw Bian Cheng Sdn Bhd for RM38 million. There were two private caveats on the land.
Khaw Bian Cheng Sdn Bhd was supposed to transfer the land free from all encumbrances and with vacant possession. (I guess you could say it is now ‘vacant possession’.)