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- In a bourse filing on Thursday, Taghill said it had received the adjudicator’s decision dated Sept 17, Wednesday, ordering Dreamlike Development to pay RM3.08 million for the remaining amount payable for work done under the construction contract and RM88,830 in adjudication costs within 14 days.
KUALA LUMPUR (Sept 18): Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, has secured an adjudication decision in favour of its wholly-owned subsidiary Taghill Projects Sdn Bhd in a dispute with property developer Dreamlike Development Sdn Bhd over unpaid construction works.
In a bourse filing on Thursday, Taghill said it had received the adjudicator’s decision dated Sept 17, Wednesday, ordering Dreamlike Development to pay RM3.08 million for the remaining amount payable for work done under the construction contract and RM88,830 in adjudication costs within 14 days.
The award, however, dismissed Taghill Projects’ claim for RM836,307 in contractual or late payment interest, while rejecting Dreamlike Development’s set-off claims for alleged defective works and non-conformance reports.
The dispute stems from Taghill Projects’ appointment as the main contractor under a RM48.4 million letter of award dated Dec 27, 2019, for a 22-storey serviced apartment project known as The Horizon @ Fair Park in Ipoh, Perak.
The works, including variation orders, were completed without complaints and officially handed over in March 2023, Taghill said.
On March 13, Taghill Projects filed a payment claim of RM4.91 million under the Construction Industry Payment and Adjudication Act 2012, covering certified and uncertified works. The case proceeded through adjudication, culminating in the latest decision.
Taghill noted that the adjudication outcome is not expected to have any material impact on its earnings, cash flows or operations for the financial year ended May 31, 2026.
Taghill shares closed unchanged at six sen on Thursday, with a market capitalisation of RM93.37 million.
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