Scheme of Arrangement Pursuant to Section 176 of the Companies
Act 1965 between Korakyat Plantations Sdn Bhd (In Liquidation)
and the Purchasers for the Rehabilitation of Taman Perindustrian
Scheme of Arrangement in brief
The scheme of arrangement was formulated by the Liquidators
of Korakyat Plantations Sdn Bhd (In Liquidation) for the rehabilitation
of Taman Perindustrian Taman Perindustrian Subang Mewah via a scheme of arrangement
under the provisions of Section 176 of the Companies Act 1965.
The scheme which is a compromise by the parties involved, essentially
comprises the contribution of fund by purchasers to a rehabilitation
account - the Escrow Account for the completion of Taman Perindustrian Taman Perindustrian
Subang Mewah, the full settlement of the amount owing the chargee
of the development land and consequently, its redemption.
TAMAN PERINDUSTRIAN USJ 1