The Board of Directors of Lagenda Pproperty Berhad (LPB) through its official released statement made the announcement on Taraf Nusantara Sdn Bhd (TNSB), a wholly-owned subsidiary of LPB, had on 23 June 2022 entered into a Deed of Revocation of Joint Development and Shareholders’ Agreement dated 21 September 2020 (the Deed) with Tenaga Danawa (TDSB) a wholly-owned subsidiary of MajuPerak Holdings.
Salient points raised in the official statement include, upon execution of the said Deed, TNSB shall pay a deposit sum of RM4,000,000.00 only to TDSB within seven (7) working days which will form part of the Final Settlement’s; and the Balance Payment of RM8,324,000.00 only shall be paid to TDSB within fourteen (14) days from the Completion Date.
Upon the execution of the said Deed and settlement of the full payment of the Final Settlement, the said Agreements shall be deemed to be terminated and cancelled, both parties obligations pursuant to the said Agreements shall be null and void and to be of no further force or effect as from the date hereof, and finally, TDSB shall have no rights whatsoever whether legal equitable or otherwise in the said Agreements or SPV Company and TDSB further declares that it shall have no
claim whatsoever against TNSB and/or the SPV Company or any other person or persons in respect of and under the said Agreements, and shall not interfere, albeit directly or indirectly, in the Project and/or the Land.
