Kuala lumpur: Hong Seng Consolidated Bhd's wholly-owned subsidiary, AIMAX Capital Sdn Bhd, has entered into debt settlement agreements totaling RM63.61 million with four borrowers. The agreements, filed with Bursa Malaysia, involve the transfer of serviced apartments in Kajang, Selangor as settlement.

According to BERNAMA News Agency, AIMAX Capital signed the agreements with Datuk Liu Han Ming, Von Victory Sdn Bhd, Chia Yan Mei, and Nah Choon Jeck. The agreements entail the full and final settlement of the principal indebtedness through the transfer of 184 serviced apartment units, valued at RM62.48 million, to AIMAX Capital and/or its nominee(s).

The total principal indebtedness amounts to RM63.61 million, resulting in a differential of RM1.12 million. Of this, Liu accounts for RM36.95 million, settled with 109 units valued at RM36.40 million, leaving a differential of RM548,193.95. Von Victory's RM6.17 million debt will be settled with 18 units valued at RM6.06 million, resulting in a differential of RM114,570.27. Chia's RM6.24 million indebtedness will be settled with 14 units valued at RM6.11 million, with a differential of RM127,035.26. Nah's RM14.24 million will be settled with 43 units valued at RM13.91 million, leaving a differential of RM332,507.88.

Pursuant to the agreements, AIMAX Capital has agreed to assign or novate its rights, title, interest, duties, and obligations in the properties to its wholly-owned subsidiary, AIMAX Assets Sdn Bhd. This unit, engaged in investment holding and property investment, will streamline the ownership, holding, and management of the properties.