Capital World Addresses SGX Queries on Tenaga Nasional Demand

MT Newswires10-01

Capital World (SGX:1D5) has responded to the Singapore Exchange regarding a 5.4 million ringgit demand from Tenaga Nasional (KLSE:TENAGA) for unpaid electricity bills related to the Capital City mall, which closed in 2020, according to a Monday filing on the Singapore Exchange.

The company's unit, Capital City Property, received the demand on Sept. 24. Capital World expects to receive 20 million ringgit from MK Mustafa by Dec.31, aiding its cash flow.

Following an anticipated payment of 3 million ringgit by early October, the group's cash balance is projected to be nearly 10.2 million ringgit.

After settling Tenaga Nasional's demand, the company's cash balance will drop to 4.8 million ringgit, sufficient to cover operational expenses until the end of its financial year in June 2025.

Capital World is negotiating with Tenaga Nasional to restructure the payment plan and has reported no other outstanding letters of demand.

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