SC Estate Builder Bhd’s wholly owned subsidiary SC Estate Industries Sdn Bhd has entered into an agreement with Sigmagate Capital Sdn Bhd and Ismail Idris for amicable full and final settlement of the RM2.77 million debt due and owing by Sigmagate Capital to SC Estate Industries for the supply of various construction materials on credit, to be satisfied by 21 pieces of a freehold land together with all buildings erected in Alor Star, Kedah.
The market value of the property is RM3.65 million, which exceeds the sum of the debt owed, leaving an exccess sum of RM883,057.46. SC Estate Industries is engaged in the trading of building materials, while Sigmagate Capital operates as a general contractor with subsidiary business in investment holding and rental collection.