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Nail in the coffin for Skoda?


Coolpica
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From today's Straits Times.

 

Skoda agent served winding-up petition

Action arose from dispute over rental

 

By Christopher Tan Senior Correspondent

 

SKODA agent Harvest Automobiles, owned by the family of multimillionaire businessman Peter Kwee, has been served a winding-up petition.

It is the first authorised new car agent to fall victim to the depressed car market and the second Skoda agent here to face financial trouble.

The petition was filed by Sime Darby Property - an arm of the Malaysian conglomerate - in the High Court on Oct 28, through its lawyers Drew & Napier.

Harvest managing director Daniel Au told The Straits Times the petition arose from a "dispute" over rental. Harvest had rented space at an Alexandra Road facility owned by Sime Darby. It had apparently moved out but left behind some equipment.

"They asked us to move the equipment out or they would charge us double the rental," Mr Au said. He did not elaborate but gave an assurance it will be "business as usual" at the dealership after a new company, Harvest Automobiles (MB), was formed.

Checks with the Accounting and Corporate Regulatory Authority revealed that the new entity was registered on Wednesday. Its sole proprietor is Ms Karen Kwee - Mr Kwee's daughter and Mr Au's wife.

Another company, Harvest Automobiles Rental & Leasing, registered in October 2010, is owned by the couple.

Both companies are housed in 3 Leng Kee Road, owned by Mr Kwee. Earlier this year, the property and car tycoon sold his Pines country club to developer Oxley Holdings for $318 million. He bought it for about $100 million 10 years ago.

Mr Au said the winding up is of no concern to consumers because "we've not been selling any cars for some time". He added the industry is reeling from a dwindling supply of certificates of entitlement (COEs), tighter credit measures and heftier taxes introduced in February.

A number of used car dealers shut down this year. In 2002, Skoda dealer JTA buckled amid spiralling COE prices, leaving a group of customers in the lurch.

Mr Au was close to being declared bankrupt when he failed to repay a personal loan this year. He managed to stave that off by working out an instalment payment scheme with the lender.

Sime Darby said it could not comment as court proceedings are ongoing.

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Skoda design exterior design look very old.

Like those russian car that used to be in singapore.

I forgoten the brand.

Lada.

 

The model is Samara.

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Ya. Thats the model.

 

Skoda interior is nice. like 4rings n vw.

Of course,they belongs to the VW group...alot of parts sharing,inc the famous 7 speed D.S.G..!

The Kwee's family likes to go "Lawsuit",too rich & too boring,nothing to do..even sell "Bak Kwa"...also got into trouble.

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Wah...sold Pine country club for $218 million profit and nearly declared a bangkrupt the same year! Rich pips sure got many pattern wan! Close here closed there open here open there....am i reading it at a superficial level?

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Wah...sold Pine country club for $218 million profit and nearly declared a bangkrupt the same year! Rich pips sure got many pattern wan! Close here closed there open here open there....am i reading it at a superficial level?

 

if i read correctly, it is the KWEE family that sold Pine Country.

that guy nearly bankrupt is Kwee's daughter husband (Harvest managing director Daniel Au)

am i right?

Edited by Mcf777
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(edited)

 

if i read correctly, it is the KWEE family that sold Pine Country.

that guy nearly bankrupt is Kwee's daughter husband (Harvest managing director Daniel Au)

am i right?

Yup u are right. Worth noting, he was nearly declared a bankrupt and is no longer a director inthe new company. Edited by Coolpica
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existing owners how? warranty can still claim?

Qupted from the report "Mr Au said the winding up is of no concern to consumers because "we've not been selling any cars for some time". He added the industry is reeling from a dwindling supply of certificates of entitlement (COEs), tighter credit measures and heftier taxes introduced in February."

The answer is there in the paragraph.

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Not selling cars for some time? Covens fault.

Not selling cars for some time? Covens fault.

Many bkt here still driving s and 7 class....series. just a game to them.

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Kwee son-in-law still inside kwee family mar! run around still at the same place....only those chasing will feel dizzy! hahahaha

 

 

LOL......

 

this brand hor, has many lives here.... this is not the first and will not be the last time we hear it 'dying'.....

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Skoda design exterior design look very old.

Like those russian car that used to be in singapore.

I forgoten the brand.

Would that be Lada...

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