Businessperson Deepak Jaikishan today admitted that he has sold
his estranged company Astacanggih Sdn Bhd for RM30 million to a Defence
Ministry agency, claiming that he was forced into the deal.
He said the deal was only to cover the money he had spent in a land deal with Awan Megah (M) Sdn Bhd that turned sour, and had grudgingly gone through with it despite being denied the lands promised to him.
“It is true that my shareholders and me have sold our shares in Asta Canggih for RM30 million which is our actual cost price of RM13 million for Raja Ropiaah, RM8 million in political contributions, RM7 million of financial costs and RM2 million in legal and miscellaneous costs.
“This was an ultimatum that was forced upon us,” he said in a text message today, but did not mention names.
The statement today comes after Boustead Holding Bhd, the investment vehicle of Lembaga Tabung Angkatan Tentera (LTAT), an agency under the Defence Ministry, announced on Bursa Malaysia that it will be acquiring an 80 percent stake in Astacanggih Sdn Bhd, which was owned by Deepak.
Abrupt move to withdraw lawsuit
Boustead Holdings Bhd, which purchased the stake through its wholly-owned subsidiary Bakti Wira Development Sdn Bhd, said it will also acquire 80.94 hectares of freehold land in Klang from Awan Megah (M) Sdn Bhd for RM130 million.
He said the deal was only to cover the money he had spent in a land deal with Awan Megah (M) Sdn Bhd that turned sour, and had grudgingly gone through with it despite being denied the lands promised to him.
“It is true that my shareholders and me have sold our shares in Asta Canggih for RM30 million which is our actual cost price of RM13 million for Raja Ropiaah, RM8 million in political contributions, RM7 million of financial costs and RM2 million in legal and miscellaneous costs.
“This was an ultimatum that was forced upon us,” he said in a text message today, but did not mention names.
The statement today comes after Boustead Holding Bhd, the investment vehicle of Lembaga Tabung Angkatan Tentera (LTAT), an agency under the Defence Ministry, announced on Bursa Malaysia that it will be acquiring an 80 percent stake in Astacanggih Sdn Bhd, which was owned by Deepak.
Abrupt move to withdraw lawsuit
Boustead Holdings Bhd, which purchased the stake through its wholly-owned subsidiary Bakti Wira Development Sdn Bhd, said it will also acquire 80.94 hectares of freehold land in Klang from Awan Megah (M) Sdn Bhd for RM130 million.