19th Jun 2019 18:00
(Alliance News) - Aseana Properties Ltd said Wednesday its current development manager, Ireka Development Management Sdn Bhd, will terminate its contract on June 30.
Ireka is responsible for the day-to-day management, enhancement and divestment of the property developer's portfolio, as well as being a subsidiary of Ireka Corp Berhad the owner of a 23.07% interest in Aseana.
The June 30 date represents an extension to Ireka's three-month notice period. Aseana said the extension will "ensure a smooth handover".
The decision to resign from the development manager role is to avoid "any perception of conflict between Ireka's role and Ireka Corp's position as a substantial shareholder of Aseana", the company explained.
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