February 26, 2015 11:34 PM ET

Capital Markets

Company Overview of Amanah Raya Berhad

Company Overview

Amanah Raya Berhad, a trustee company, provides trust, legacy management, and will-services in Malaysia. The company offers personal financial services, such as estate management and planning, estate administration, and trust account; and corporate trusteeship and custodianship services that support various Islamic and conventional financial instruments, including real estate investment trusts, corporate debt issues, structured products, employee stock option schemes, and escrow accounts, as well as unit trust, retirement, sinking, and corporate funds. Amanah Raya Berhad has strategic partnerships with Bank Islam Malaysia Berhad, Malaysia Building Society Berhad, Bank Persatuan Malaysia Berh...

Wisma AmanahRaya

No. 2

Jalan Ampang

Kuala Lumpur,  50508

Malaysia

Founded in 1921

Phone:

60 3 2055 7388

Fax:

60 3 2031 4545

Key Executives for Amanah Raya Berhad

Group Managing Director and Director
Group Chief Financial Officer and Head of Group Finance & Accounts Department
Chief Operating Officer
Age: 48
Group Chief Marketing Officer and Head of Group Marketing Management Department
Head of Trust Administration Department
Compensation as of Fiscal Year 2014.

Amanah Raya Berhad Key Developments

Amanah Raya Berhad Provides Updates on Material Litigation

AmanahRaya-REIT Managers Sdn. Bhd, the Manager of ARREIT announced that the Trustee had through its Solicitors on 6.1.2015 filed an application at the High Court of Malaya at Kuala Lumpur to strike out the Writ of Summons and Statement of Claim dated 17 October 2014 with costs to be borne by the Plaintiffs and any such other orders as deem fit and reasonable by the Court. The Trustee through its solicitors had on 6.1.2015 also filed an application for Summary Judgment against the Silver Bird (second Plaintiff), payment of the outstanding lease rental of MYR 608,000 per month commencing from 16 August 2013 until delivery of vacant possession of the Property to the Trustee; payment of ‘double rental’ of MYR 608,000 per month commencing from 16 August 2013 until delivery of vacant possession of the Property to the Trustee; interest on any such sum assessed and awarded by the Court to the Trustee at the rate of 5% p.a. from the date the lease rental and/or the ‘double rental’ becomes due and payable until the date of full and final settlement; a declaration that the 2nd Plaintiff and/or any persons claiming to have derived their rights from the second plaintiff who are in occupation of the property without the trustee’s consent are in wrongful occupation of the property; an order that the second plaintiff and/or its employees and/or its agents and any persons claiming to have derived their rights from the second plaintiff and/or any persons who are in occupation of the property without the trustee’s consent, delivers vacant possession of the property to the trustee within seven days from the date of the service of the order; an order that the second plaintiff and/or its employees and/or its agents and any persons claiming to have derived their rights from the second plaintiff and/or any persons who are in occupation of the property without the Trustee’s consent, remove their belongings and/or cause the removal of their belongings from the property within seven days from the date of the service of the order; an order that the Trustee be allowed to place security guards at the property immediately upon the order; in the event of a failure to obey the orders prayed for in para (e) and (f) hereinabove, an order that the trustee be given leave to re-enter the Property in order to lock up the Property without prejudice to the Trustee’s right to apply for writ of possession; general damages to be assessed; costs on a solicitor-client basis or costs; and such further and other relief(s) as the Court deems fit and just. The Kuala Lumpur High Court had on 7.1.2015 fixed the Suit for further case management on 20.1.2015. To date no hearing date has been fixed for the Striking Out Application and the Summary Judgment Application. The Kuala Lumpur High Court had on 7.1.2015 fixed the Suit for further case management on 20.1.2015. To date no hearing date has been fixed for the Striking Out Application and the Summary Judgment Application.

Amanah Raya Berhad and CIMB Islamic Trustee Berhad Announce Update on Material Litigation

AmanahRaya-REIT Managers Sdn. Bhd, the Manager of ARREIT announced that the Trustee has filed a Defence and Counterclaim through its solicitors at the High Court of Malaya at Kuala Lumpur on 28 November 2014 where the Trustee denies the claims made by the Plaintiffs; the legal action was filed by the Plaintiffs after ARREIT had evinced its intention to commence legal proceedings against the second Plaintiff to recover the outstanding lease and vacant possession of the Property wherein this Property is the subject matter of the legal action taken by the Plaintiffs; the Trustee maintains that it is not involved in any alleged wrongdoing against the Plaintiffs. The Trustee and the Manager have been advised by its solicitors that ARREIT has a good defense to the abovementioned legal action. The Trustee have sought for an Order that the action taken by the Plaintiffs to be dismissed on a solicitor-client basis or costs without prejudice to the Trustee’s rights to file an application to strike out the Writ of Summons and Statement of Claim. Following the leave granted by the High Court vide Kuala Lumpur High Court Originating Summons No. 24NCC-280-08/2012 to ARREIT on 28 October 2014 to proceed with legal action against the second Plaintiff for repossession of the Property, etc, together with the Statement of Defence, the solicitors have on 28 November 2014 filed a Counter Claim against second Plaintiff whereby the Trustee has sought for the following orders: Payment of the outstanding lease rental of MYR 608,000 per month commencing from 16 August 2013 until delivery of vacant possession of the Property to the Trustee; payment of ‘double rental’ of MYR 608,000 per month commencing from 16 August 2013 until delivery of vacant possession of the Property to the Trustee; interest on any such sum assessed and awarded by the Court to the Trustee at the rate of 5% p.a. from the date the lease rental and/or the ‘double rental’ becomes due and payable until the date of full and final settlement; a declaration that the second Plaintiff and/or any persons claiming to have derived their rights from the second Plaintiff who are in occupation of the Property without the Trustee’s consent are in wrongful occupation of the Property; an order that the second Plaintiff and/or its employees and/or its agents and any persons claiming to have derived their rights from the second Plaintiff and/or any persons who are in occupation of the Property without the Trustee’s consent, delivers vacant possession of the Property to the Trustee within seven days from the date of the service of the Order; an order that the second Plaintiff and/or its employees and/or its agents and any persons claiming to have derived their rights from the second Plaintiff and/or any persons who are in occupation of the Property without the Trustee’s consent, remove their belongings and/or cause the removal of their belongings from the Property within seven days from the date of the service of the Order; an order that the Trustee be allowed to place security guards at the Property immediately upon the order; in the event of a failure to obey the orders herein, an order that the Trustee be given leave to re-enter the Property in order to lock up the Property without prejudice to the Trustee’s right to apply for writ of possession; costs on a solicitor-client basis or costs; general damages to be assessed; and such further and other relief(s) as the Court deems fit and just.

High-5 Conglomerate Berhad the Company and its Subsidiary Provides Update on Legal Case Against Amanah Raya Berhad and CIMB Islamic Trustee Berhad

Further to the announcements made by the company on 3 September 2013, 12 September 2013, 7 November 2013 and 29 April 2014, the Board of Directors of High-5 Conglomerate Berhad the Company and its subsidiary company, Standard Confectionery Sdn Bhd have on 17 October 2014 filed the Suit in High Court of Malaya at Kuala Lumpur against the Amanah Raya Berhad, CIMB Islamic Trustee Berhad, Dato’ Tan Han Kook and Dato’ Ahmad Rodzi Pawanteh in relation to land held under Geran 285748, Lot No. 62048, Pekan Baru Hicom, Daerah Petaling, Selangor, measuring approximately 59,336 square meters together with a factory complex, with the address Lot 72, Persiaran Jubli Perak, Seksyen 21, 40000 Selangor Darul Ehsan. Under the Suit, the Plaintiffs are seeking the from the court: declaration that the title of the 2nd Defendant to the Property is defeasible by virtue of Sections 340(1), (2) and (3) of the National Land Code 1965; A declaration that the statutory lease dated 6 October 2006 registered at the Land Registry via presentation no. 11855/2007 pertaining to the Property ('the Registered Lease') is defeasible by virtue of Section 340(1) of the National Land Code 1965; An order that the transfer of the Property via an instrument of transfer registered vide presentation no. 11854/2007 of the registered proprietorship of the Property from SCSB to the 1st Defendant ('the 1st Transfer'), the transfer of the Property via an instrument of transfer registered vide presentation no. 13468/2008 of the registered proprietorship of the Property from the 1st Defendant to the 2nd Defendant ('the 2nd Transfer'), the lease agreement dated 17 May 2006 between the Company and the 1st Defendant pertaining to the Property ('the Lease Agreement'), the Novation Agreement dated 26 September 2007 between the 1st and 2nd Defendants and the Company pertaining to the Lease Agreement ('the Novation Agreement'), and the supplemental agreement dated 7 May 2013 between the 2nd Defendant and the Company ('the Supplemental Lease Agreement'), be all declared null and void and be set aside; A declaration that the sale and purchase agreement dated 17 May 2006 between SCSB and the 1st Defendant as trustee for the common fund for a sale and leaseback ('SPA') and the said lease back arrangement is fraudulent and illegal and against public policy; The SPA, the Lease Agreement, the Novation Agreement and the Supplemental Lease Agreement be declared null and void and unenforceable; A consequential order that the Registrar of Land Titles be directed pursuant to Section 417 of the National Land Code 1965 to cancel the 1st Transfer, the 2nd Transfer and the Registered Lease; General, aggravated and punitive damages against the 3rd Defendant and 4th Defendant; and Such further and other orders as the honourable court deems fit.

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