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Immediate payment of RM 1.5 million to OPM (“First Payment”) by 30 January 2024.
6 monthly installment of RM 250,000 per month from January to June 2024. (“Second to Seventh Payment”)
That KTIMB agrees to conclude with OPM by 31 May 2024 with one of the three following solutions:
- the termination of the CA, or
- KTIMB or designate, to the takeover OPM at an agreed valuation, or
- the restructuring of the concession debts outstanding as well as the
.Earlier today, BKCB received a Non-Legally Binding Letter of Intent from KTIMB to purchase 100% shares of OPM, which among others, subject to completion of the Due Diligence on OPM by their appointed Professional Consultant... soonest possible.
...Interim Settlement Proposal ISP with respect to the default of RM58.6 million owing by Kolej Teknologi Islam Melaka Berhad as at December 2023. Negotiations with KTIMB are ongoing and the deadline to resolve the outstanding debt repayment issue under the Concession Agreement is 31 May 2024.
as long as no amount of OPM valuation been announced, market won't see it as good news yet. OPM can be acquired with discount and cause losses to Bintai. we never know.
