Capital World Unit Sued Over Alleged Delayed Property Delivery
Capital World's (SGX:1D5) subsidiary, Capital City Property, was served with a writ of summons from a buyer of a service unit at its development in Malaysia, claiming a total of 332,789 ringgit over the company's alleged failure to deliver vacant possession within a stipulated timeframe.The purchase has filed a claim, seeking a refund of the 2,000 ringgit deposit, 80,512 ringgit cashback payment and 250,288 ringgit in progressive construction payments, according to a Tuesday filing with the Singapore Exchange.The subsidiary is now required to make an appearance within 14 days of the service of the letter to avoid a default judgment.Meanwhile, the company has engaged legal counsel over the matter, with case management scheduled for June 25 at the Johor Bahru Sessions Court in Malaysia.
