Court auction of Mines Waterfront Business Park draws no bids at RM152.77m reserve
A court-ordered auction of the Mines Waterfront Business Park property in Petaling, Selangor, failed to attract any bidders on Wednesday. The leasehold site, spanning 667,147 sq ft and owned by a Country Heights subsidiary in liquidation, had a reserve price of RM152.77 million.
PETALING JAYA (Nov 5) — A court auction of the Mines Waterfront Business Park property in Petaling, Selangor, drew no bids, Country Heights Holdings Bhd said in a Bursa Malaysia filing on Wednesday (Nov 4). The property had a reserve price of RM152.77 million, as previously reported by EdgeProp.
The property is owned by Mines Waterfront Business Park Sdn Bhd (in liquidation), a subsidiary of Country Heights. The auction was scheduled for 9am on Wednesday via the e-Lelong platform.
MBSB Bank Bhd initiated the auction under an order for sale issued by the High Court of Malaya at Shah Alam in case BA-38-558-02/2026. The property is held under title HSD 59887, lot PT 16715, Mukim Petaling, District of Petaling, Selangor.
The leasehold property spans approximately 667,147 sq ft (15.3 acres) and includes completed office blocks, unsold units, incomplete buildings and vacant commercial land. It was charged to MBSB Bank as security for financing granted to the subsidiary.
The outcome follows the cancellation of a separate court auction scheduled for Sept 21 after no bidders came forward for a 6.41-acre freehold commercial parcel along Jalan Sinar Pagi in Country Heights, Kajang. The parcel, owned by Country Heights Commercial Development Sdn Bhd and held under title GRN 122934, lot 37653, had a reserve price of RM55 million. That Kajang parcel secured an S$11.5 million (RM36.46 million) term loan to Country Heights, and the auction arose from High Court proceedings in Shah Alam between CGS International Capital Singapore Pte Ltd and Country Heights Commercial Development Sdn Bhd.
Country Heights said it would announce any material developments as necessary.
