DFI's Malaysia unit halts operations after latest compulsory land acquisition notice

The company received the first notice on 3 October.

Duty Free International (DFI) announced that its unit, Cergasjaya, has received notices from the Land Administrator to take formal possession through Borang K and Borang L, as part of the compulsory land acquisition for its lots in Malaysia.

As a result, Cergasjaya will cease its duty-free business at the Duty-Free Complex and car park operations on 25 November and vacate the premises in due course.

On 3 October, the company received a notice of compulsory land acquisition from the Ministry of Home Affairs of Malaysia for its Lot 1683 Bukit Kayu Hitam and PT2209 Bukit Kayu Hitam in Kedah.

In a bourse filing, the company said that DFI is in the process of filing an objection by way of a land reference to the High Court in accordance with the Land Acquisition Act 1960 of Malaysia.

DFI is unable to quantify the financial impact of the Compulsory Land Acquisition until the conclusion of the land reference in the High Court.

The company advises its shareholders and potential investors to exercise caution when dealing in the shares of the company and consult their advisors when in doubt.

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