KFC, Idris settle Wisma KFC dispute

KFC HOLDINGS (Malaysia) Bhd (KFCH) and Idris Hydraulic (Malaysia) Bhd have signed a settlement agreement concerning disputes over Wisma KFC, which will see the building returned to KFC as the sole beneficial owner. The agreement is conditional upon Idris shareholders' approval in a meeting of the company's restructuring exercise, within 120 days of the date of the agreement and the approval from the Securities Commission. Datuk George Ting and Datuk Mohd Salleh Hashim are deemed interested in the agreement. Ting, who is also KFC fast food division president, has interest in Grand Ultimate Sdn Bhd and Impress Eight (M) Sdn Bhd, the vendors of the 18th and 22nd floor of Wisma KFC. Mohd Salleh…