KUALA LUMPUR (Dec 7): Aeon Co (M) Bhd, which is suing developer Gemilang Waras Sdn Bhd (GWSB) on the renewal of lease for AEON Mall Bukit Tinggi in Klang, Selangor, is being counter-sued by the latter.
GWSB has alleged that Aeon’s continued occupation of AEON Mall Bukit Tinggi constitutes a trespass and holding over the mall after the expiration of the lease agreement on Nov 23, according to a Bursa Malaysia filing today.
Aeon said GWSB is also seeking to strike off and dismiss Aeon’s suit that was filed on Nov 9, order Aeon to deliver vacant possession of the mall within 14 days from the date of the court order, and seek damages in the form of double rental from Nov 23, 2017 till the date of delivery of vacant possesion of the mall.
GWSB is also seeking any other assessment of damages, and costs for the dismissal of Aeon’s suit and counterclaim.
Meanwhile, Aeon’s suit against GWSB seeks injunctions to prevent the latter from taking any action to terminate the lease agreement dated Nov 23, 2007 pending the court’s decision, and evict Aeon or its tenants from the mall.
Aeon is also seeking an interlocutory injunction to maintain status quo pending the court’s decision, and a declaration that the lease has been renewed or specific performance to compel GWSB to take necessary formal steps to renew the lease and/or damages.
Aeon has maintained that both suit and countersuit are not expected to have any material financial or operational impact on Aeon for the financial year ending Dec 31, 2017.
It should be noted that GWSB is a wholly-owned subsidiary of WCT Land Sdn Bhd, which is in turn a wholly-owned subsidiary of WCT Holdings Bhd.
At closing, Aeon dipped five sen or 2.7% to RM1.80 for a market capitalisation of RM2.53 billion.