Sunday, June 4, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home Business

Appeal Court in Cambodia denies Parkson bid to move case to Singapore

May 18, 2020
in ASIA, Business, Cambodia, National
0
Appeal Court in Cambodia denies Parkson bid to move case to Singapore
0
SHARES
19
VIEWS
Share on FacebookShare on Twitter

An Appeal Court in Cambodia has rejected Parkson’s attempt to have its case versus Hassan Cambodia (Cambodia) Development Co Ltd (HCD) transferred to a Singaporean court.

Two weeks ago, the Phnom Penh Municipal Court ordered the Malaysian retail giant to pay HCD $144 million in damages over an unfinished mall project in Phnom Penh.

While the case was pending, Parkson filed a request to the Appeal Court to transfer the case to Singapore for arbitration as Parkson argued that courts in Cambodia have no jurisdiction over the matter.

However, the local appeal court has disagreed in a ruling handed down on April 22. A week later, the Appeal Court further ruled that the case cannot be transferred to Singapore as legal proceedings in Cambodia have yet to be completed.

The long-running court battle between the two sides started four years ago when Parkson accused HCD of failing to follow through its contractual obligations over the Parkson Mall (later renamed to Phnom Penh Megamall) project. HCD denied Parkson’s claims and later filed a countersuit seeking damages.

Based on the original design, Parkson Mall was supposed to have 10 storeys of retail space with a supermarket on the basement, fashion on the ground and first floors, F&B on third and fourth floors, followed by electronics, home living, education and others from the fifth to seventh floors.

The mall was also to host a bowling alley with 32 lanes and a cinema operated by Golden Screen Cinema, which owns the largest multiplex movie theatre in Southeast Asia and a large parking that would be able to accommodate 1,500 cars and 3,000 motorbikes.

A news release from the real estate firm CBRE from August last year announced that the mall was slated to open in the third quarter of 2020. The same media released also announced the start of leasing.

A source later told Khmer Times that tenants have asked for a delay in finishing their own decorations because of the Coronavirus outbreak.

Parkson, which is one of the leading retail chains in Malaysia, also has branches in China and Vietnam. HCD, which has interests in property development and other businesses, is headed by its chairman, Nasiet Othsman.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaHassan CambodiaParksonPhnom PenhSingapore
Previous Post

Cambodia Securities Exchange (CSX) suspends, ‘market-maker’, SBI Royal Securities Plc

Next Post

$880m Siem Reap International Airport to be ready in 3 years

Related Posts

North Korea’s Kim Yo Jong promises more spy satellite launches: KCNA

North Korea’s Kim Yo Jong promises more spy satellite launches: KCNA

by AsiaOne
June 2, 2023
0
0

SEOUL - North Korea's Kim Yo Jong, leader Kim Jong Un's sister, has said her country's military spy satellite will soon...

India makes tobacco warnings mandatory for streaming sites

India makes tobacco warnings mandatory for streaming sites

by AsiaOne
June 1, 2023
0
0

BENGALURU/NEW DELHI - India unveiled guidelines on Wednesday (May 31) requiring streaming platforms such as Netflix and Amazon Prime Video...

Why North Korea’s satellite launch attempt may be ‘first of many’

Why North Korea’s satellite launch attempt may be ‘first of many’

by AsiaOne
June 1, 2023
0
0

SEOUL/TOKYO - North Korea is unlikely to be deterred from its quest to place cargoes in space, analysts said, even...

Most Popular

2 Chinese tourists’ naked bodies found in Bali hotel

2 Chinese tourists’ naked bodies found in Bali hotel

May 6, 2023
221
Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

Oriental Bank Plc, new commercial bank in Cambodia, to enter market ventured by G Capital Bhd, Public Bank Bhd, E S Packaging

December 12, 2020
3.6k
Harry takes a seat at coronation, but no balcony appearance

Harry takes a seat at coronation, but no balcony appearance

May 8, 2023
6
Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

Dara Sakor International Airport in Koh Kong province of Cambodia delayed due to unfinished construction

May 19, 2023
5
China urges Australia to help find crew of capsized fishing boat

China urges Australia to help find crew of capsized fishing boat

May 19, 2023
4
Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

Upside down flags: SEA Games organiser apologises for gaffe in opening ceremony

May 8, 2023
4

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!