KUALA LUMPUR: LCL Corporation Bhd, whose fortunes have been battered following its over exposure to the Dubai property market, has identified US-based KHS&S as a potential investor to regularise its financial condition.

LCL, an interior out-fit company, said KHS&S is one of the leading theme contractors in the US and has built major theme parks in the world. They include Disney Land, Disney World, Universal Studio, Red Rock Casino, Sea World and the Las Vegas MGM Casino.

"LCL will discuss, deliberate and outline the regularisation plan with the representatives from KHS&S on the details of LCL’s regularisation plan. LCL will make the necessary announcements to Bursa Securities accordingly in due course," it said on Friday, Jan 29.

It said KHS&S has expanded to the Middle East, China and Eastern Asia. It has 11 major offices in the USA and its regional offices include Macau, Hong Kong, Kuala Lumpur, Bangkok and Singapore. KHS&S had completed over 3,000 projects worldwide and their profile can be found at www.khss.com

Meanwhile, LCL also said its subsidiary, Authentique Gallery (M) Sdn Bhd, had on Jan 29 received notices of demand from Messrs Iza Ng Yeoh & Kit on behalf of Public Bank Bhd for arrears amounting to RM1 million.

LCL's subsidiary LCL Furniture Sdn Bhd is also in arrears amounting to RM114.58 million owing to Affin Bank Bhd, Bank Islam Malaysia Bhd, The Royal Bank of Scotland Bhd and AmBank (M) Bhd.