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Bintai Kinden Unit Proposes MYR15 Million Debt Settlement Plan

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Bintai Kinden (KLSE:BINTAI) unit Optimal Property Management has proposed a settlement plan under which Universiti Islam Melaka will pay 14.7 million ringgit in monthly concession payments.

Under the proposal, Universiti Islam Melaka will pay 600,000 ringgit in September, 700,000 ringgit monthly from October to December, 1 million ringgit monthly throughout 2027, and 2 million ringgit quarterly for five quarters through September 2027.

Separately, Universiti Islam Melaka will pay 10 million ringgit in additional payments towards outstanding debt.

Universiti Islam Melaka is targeting either settlement of Optimal Property's outstanding debt and MBSB financing followed by termination of the concession, or a takeover of OPM by September 2027, extendable to December 2027.

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