SINGAPORE (March 6): The high court has dismissed the winding-up applications for three of Perennial Real Estate Holdings’ associated joint venture (JV) companies, namely: Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management. Each of the three associates is effectively 50% owned by Perennial and Ron Sim of Osim International. The winding-up applications were filed last year by Perennial Real Estate Holdings’ wholly-subsidiaries, Perennial (Capitol) and New Capitol, following project disagreements with Chesham. (See also: Perennial Real Estate wants break from partner Chesham over Capitol project disagreements)In a filing to the Singapore Exchange (SGX) last Friday, Perennial mentions that the high court’s decision of dismissal, made on March 3, is subject to appeal for one month. “In 2010, the firms behind Capitol Singapore had come together after winning the bid.

Source: The Edge Markets March 06, 2017 07:18 UTC