Sim Leisure Seeks Compensation After Theme Park Deal Termination

MT Newswires

02-19

Sim Leisure Group (SGX:URR) has demanded compensation from Bandar Malaysia for breaching a theme park development agreement in Kuala Lumpur, according to a Tuesday filing on the Singapore Exchange.

The company said it served a letter of demand on Feb. 18, alleging the deal was unlawfully terminated after the project site was sold to KLCC Development without honoring contractual obligations.

Sim Leisure is seeking a settlement but warned it could pursue legal action, including damages and an injunction, if discussions fail.

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