KUALA LUMPUR: Country Heights founder Tan Sri Lee Kim Yew said the issue surrounding his bankruptcy involved a mere RM3 million.
The tycoon said he was not a bankrupt, but had been deemed as one by a third party.
"I did not file for bankruptcy. This particular party declared me a bankrupt over a RM3 million suit. I will provide more details about this matter at a press conference tomorrow," he said when contacted by the News Straits Times.
News about his bankruptcy has gone viral following checks on the e-Solvency website.
Lee, the founder of Country Heights Holdings Bhd (CHHB), was supposedly declared bankrupt by the Shah Alam High Court on Jan 26.
On Feb 3, he announced that he would step down as CHHB executive chairman in order to facilitate a change in management for the group's transition.
CHHB is well-known for developing The Mines Resort City in Seri Kembangan, which includes The Mines Resort & Golf Club, Palace of the Golden Horses, The Mines Beach Resort & Spa, The Mines Waterfront Business Park, and the MINES International Exhibition & Convention Centre.
It was also reported that Lee was a prosecution witness in Deputy Prime Minister Ahmad Zahid Hamidi's Yayasan Akalbudi corruption trial.
During the Johor state polls last year, the property tycoon made headlines when he campaigned with former prime minister Tun Dr Mahathir Mohamad, calling on the Chinese community to vote for Pejuang.
Lee's daughter, Dian, signed up with the youth-centric Muda in December 2021 and is currently the party's central executive committee member.