Mulpha, UEM Sunrise call off deal to develop Nusajaya land
PETALING JAYA
: Mulpha International Bhd and UEM Sunrise Bhd have mutually terminated their master agreement to develop parcels of land in Nusajaya.
In a Bursa filing, Mulpha said conditions precedent in the master agreement have not been fulfilled or waived during the extended conditional period and, as such, both parties have agreed not to proceed.
“Hence, both Leisure Farm Corp Sdn Bhd and UEM Sunrise have mutually agreed to terminate the master agreement, whereupon termination, shall become null and void, and of no effect whatsoever upon the expiry of the extended conditional period on Feb 15 2021,” it said.
In
Dr H K Fong Brainbuilder Pte Ltd v SG-Maths Sdn
Bhd & Ors [2021] 1 CLJ 155, the Malaysian Court
of Appeal affirmed that an unregistered franchise agreement is void
for illegality. This case stressed that franchise registration
requirements apply to the peril of foreign and local franchisors
alike.
The nixed franchise concerned a
Brainbuilder
mathematics teaching business which the Singaporean Plaintiff /
Appellant had granted the 1
st Defendant / Respondent the
right to operate and manage in Malaysia under a Master
Licensing Agreement . Notwithstanding its innocuous name, both
the High Court and Court of Appeal found the Master Licensing
Agreement to fall within the definition of a franchise under
Daily Monitor
Tuesday December 22 2020
Gudula Naiga Basaza, the founder and managing director of Gudie Leisure Farm inspects a fish pond. She ventured into the white meat value chain because of its timely results. PHOTOs/CHARLOTTE NINSIIMA
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Having a social enterprise merged under an agribusiness concept not only yields results for the community but also makes business sense.
Nurtured from a family dream of owning a farmyard, the farm started with six local chicken and has grown into a group of three campuses. These are seated on a total of 174 acres of land in Wakiso, Isingiro and Luweero districts.
Gudula Naiga Basaza, the founder and managing director of Gudie Leisure Farm, decided to venture into the white meat value chain because of its timely results.