Citic Tower seeks eviction

Three listed companies - Wah Nam Group, Triplenic Holdings and Fu Hui Holdings - are facing eviction from their plush Citic Tower, Admiralty offices.

The owner of the 33-storey building, Goldon Investment - whose shareholders are Citic Pacific, Citic Hong Kong, Kerry Group and the Development Bank of Singapore - claims the three have failed to pay rent running to millions, service charges and rates, and is seeking a court order to have them vacate the premises.

Goldon filed three separate writs at the Court of First Instance yesterday.

In its claim against Wah Nam Group, Goldon says the company owes a total of $1.25 million.

This is for rent between July 1 and 31, a service charge, rates and Government rent, the writ says.

Wah Nam - occupying the ninth floor of Citic Tower - has been a tenant since September last year.

It signed a contract to stay in the building for three years at $921,621 a month.

Goldon seeks a court order for vacant possession of the premises and the parking area.

Triplenic Holdings - which recently changed its name to Fujian Group - allegedly owes Goldon $1.38 million.

The sum constitutes June and July rent - at $582,794 a month - service charges and licence fees, in addition to rates.

A letter was sent to Triplenic's solicitors on July 17, according to the writ filed yesterday.

The company offices are on the 25th floor of the building.

Triplenic has also been there from September last year after signing a three-year lease.

It is also facing eviction from the premises.

Five suites on the same floor are occupied by Fu Hui Holdings, which is accused of not paying $745,829 for two months' rent, service charges, licence fee and quarterly rates.

Fu Hui is also facing a court order for vacant possession.

Goldon is seeking interest, costs and damages - to be assessed - from all three companies.

Earlier this month Citic Pacific rejected a request for rent reductions from tenants at the Citic Tower building, which has 460,000 square feet of space.

The tower is said to be about 80 per cent leased.

REMOVAL BID Rent, service charge and rates claimed in writ against three stock exchange listed companies Citic earlier turned down request for reduction