SINGAPORE (March 6): The high court has dismissed the winding-up applications for three of Perennial Real Estate Holdings’ associated joint venture (JV) companies, namely: Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management. 

Each of the three associates is effectively 50% owned by Perennial and Ron Sim of Osim International. The remaining 50% is held by Chesham Properties, an affiliate of luxury developer Pontiac Land Group.

The winding-up applications were filed last year by Perennial Real Estate Holdings’ wholly-subsidiaries, Perennial (Capitol) and New Capitol, following project disagreements with Chesham.

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