Capital World Limited Receives Writ of Summons Relating to Capital City Project
Key Highlights:
- Capital World Limited’s wholly-owned subsidiary, Capital City Property Sdn Bhd (“CCPSB”), has officially received a Writ of Summons and Statement of Claim from a purchaser, Nandagopalan A/L S.M.Samy, in relation to a service suite unit at the Capital City development.
- The legal action has been initiated against both CCPSB (as the First Defendant) and Achwell Property Sdn Bhd (as the Second Defendant).
- The purchaser is seeking a total claim of RM332,799.84, comprising:
- RM2,000 as a deposit paid
- RM80,512.00 as a cash-back payment
- RM250,287.84 as progressive payments released for construction to his end-financier
- The claim is based on the allegation that CCPSB failed to deliver vacant possession of the unit within the stipulated 52 months from the date of the Sale and Purchase Agreement (SPA), i.e., by 12 September 2019.
- The total claim excludes damages, costs, and interest, which could further increase the company’s financial exposure.
- CCPSB is required to enter an appearance within 14 days of service of the Writ; failure to do so could result in a judgment being entered against CCPSB without further notice.
- Case management has been scheduled for 25 June 2026 at the Johor Bahru Session Court.
- The company has engaged legal counsel and is currently seeking legal advice on its options.
- Shareholders are strongly advised to monitor the situation closely, as further material developments will be announced in due course.
Potential Price-Sensitive Information & Impact on Shareholders
This legal development is potentially price-sensitive and may have a material impact on the company’s share value for several reasons:
- Financial Exposure: The total claim of RM332,799.84 (excluding possible damages, costs, and interest) could negatively affect the company’s cash flows and financial position, particularly if similar claims arise from other purchasers in the same project.
- Reputational Risk: The failure to deliver vacant possession within the agreed timeframe raises questions about project execution capabilities, which may affect investor confidence in ongoing and future developments.
- Ongoing Legal Proceedings: The need to defend against this claim could result in further legal costs and uncertainties, impacting the company’s operational focus and financial resources.
- Regulatory Oversight: The announcement has been reviewed by the company’s sponsor, RHT Capital Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for the contents of the document.
- Shareholder Action: Shareholders are expressly advised not to take any action regarding their securities that may be prejudicial to their interests until further information is provided. The company recommends that shareholders consult with their professional advisors if they have any doubts.
Next Steps and Company Guidance
- The company will provide updates and further announcements as appropriate, especially regarding any material developments in relation to the case.
- Shareholders should continue to monitor official communications from the company and seek professional advice where necessary.
Contact Information:
For further queries, shareholders may contact the company’s sponsor, Mr. Josh Tan, at RHT Capital Pte. Ltd., 36 Robinson Road, #10-06 City House, Singapore 068877, or via email: [email protected].
Disclaimer: This article is prepared for informational purposes only and does not constitute investment advice. Investors should make their own assessment and consult with their professional advisors before making any investment decisions. The Singapore Exchange Securities Trading Limited assumes no responsibility for the contents of this announcement.
凯德世界有限公司收到涉及首都城项目的传票和诉讼声明
要点摘要：
- 凯德世界有限公司的全资子公司 Capital City Property Sdn Bhd（“CCPSB”）已正式收到购房者 Nandagopalan A/L S.M.Samy 针对首都城开发项目服务型套房单位发出的传票与诉讼声明。
- 该法律诉讼同时针对 CCPSB（第一被告）和 Achwell Property Sdn Bhd（第二被告）。
- 购房者要求总计索赔 332,799.84 令吉，具体包括：
- 2,000 令吉定金
- 80,512 令吉现金返还款
- 250,287.84 令吉为建设进度款，由终端融资机构支付
- 索赔基于 CCPSB 未能在购房协议（SPA）签订后 52 个月内，即 2019 年 9 月 12 日前交付单位空置权。
- 该索赔不包含可能的损害赔偿、诉讼费用和利息，公司财务风险可能进一步增加。
- CCPSB 需在收到传票 14 天内应诉，否则购房者可申请缺席判决，后果严重。
- 案件管理已定于 2026 年 6 月 25 日在新山地方法院进行。
- 公司已聘请法律顾问，并正在寻求法律意见。
- 公司将根据情况发布进一步公告，股东需密切关注事态发展。
对股东的重要信息及潜在市场影响
- 财务压力：约 33 万令吉的索赔（不含可能的追加赔偿及费用）将对公司现金流和财务状况产生不利影响，若同类购房者集体行动，风险或将扩大。
- 声誉风险：未能按期交付房产将影响开发商的项目执行能力评价，或波及投资者对公司未来项目的信心。
- 法律不确定性：持续的诉讼不仅带来额外法律费用，也可能影响公司业务重心和资源分配。
- 监管信息：本公告已由公司保荐人 RHT Capital Pte. Ltd. 审阅，但新加坡交易所未作审查与批准，对内容不承担责任。
- 股东指引：建议股东在未了解详细信息前，避免就公司证券采取任何可能影响自身利益的行动。如有疑问务必咨询专业顾问。
后续安排与公司建议
- 公司将就相关重大进展及时公告，呼吁股东关注官方信息发布。
- 如有疑问，请及时寻求专业建议。
联系方式：
如需进一步咨询，请联系公司保荐人 Mr. Josh Tan（RHT Capital Pte. Ltd.），地址：新加坡罗宾逊路 36 号 #10-06 City House，邮编 068877，电邮：[email protected]。
免责声明： 本文仅供参考，不构成任何投资建议。投资者应自行作出判断，并在需要时寻求专业意见。新加坡交易所对本公告内容不承担任何责任。
