World

Controversy Over Vida's Seized Assets: Auction Delayed to January 8 Amid Ownership Claims!

2024-12-08

Author: Daniel

Auction Delay Details

KUALA LUMPUR, Dec 8 — The auction of assets belonging to famous cosmetics entrepreneur Datuk Seri Hasmiza Othman, widely recognized as Vida, has been postponed to January 8, 2024.

Legal Representation

Legal representatives from both sides—the claimant and Vida—confirmed this delay, which was originally scheduled for tomorrow. Samir Zainal, representing the claimant, disclosed to Harian Metro that the postponement came in response to a claim from Vida Beauty Sdn Bhd, asserting ownership of the seized property.

"I need to contact my client tomorrow to discuss whether they want to appeal or take other steps," he added, hinting at potential further legal maneuvers.

Background of the Case

This significant turn of events follows a Kuala Lumpur High Court order that instructed the seizure of various assets from Vida due to her failure to repay RM1.06 million owed to Ah Design Communication Sdn Bhd. This debt arose from renovations performed on one of her factories in Shah Alam in 2018. Among the high-value items that were seized are two luxury Toyota Vellfires, a Toyota Grand Hiace, and a BMW X7, all of which have garnered much media attention.

Challenges During Seizure Process

Interestingly, reports have indicated that authorities faced challenges during the seizure process, including an incident where they could not access Vida's bedroom due to it being locked. The court had earlier granted an application for a writ of seizure and sale, leading to the execution of this order on November 25 at her residence in Meru, Ipoh, which took approximately four hours.

Future Implications

As the legal battle unfolds, the luxury lifestyle of the cosmetics mogul juxtaposed with her mounting financial obligations raises questions about the sustainability of her booming beauty empire. What’s next for Vida? With her assets in limbo and claims about ownership swirling in the courtroom, this high-profile case is far from over—stay tuned as we bring you the latest updates on this unfolding story!