Pestech instead alleged that the rail project was experiencing serious negative cashflow issues created by SPYTL, due to rear-loaded project payment milestones and a delay in SPYTL’s works.
GUH’s subsidiary Teknoserv Engineering Sdn Bhd had sued JAKS Sdn Bhd and KACC Construction Sdn Bhd (JAKS-KACC JV) following the termination of the sub-contract.
The job will now be undertaken by LFE’s wholly owned LFE Engineering Sdn Bhd, which accepted the letter of acceptance from PD Ara Sdn Bhd for the project last Friday.
... to build 170 units of double-storey cluster houses in the Taman Mutiara Maju township.
“The project is for a period of 24 months from the date of commencement of July 1, 2023, and is expected to be completed by June 30, 2025.”
This Sukuk Wakalah Programme was part of the RM1.5 billion Islamic Medium Term Notes Programme issued by the group.
WCT and TSRB had accepted a RM676.8 million job from PNB Merdeka Ventures Sdn Bhd to build a shopping complex at the Merdeka 118 development in Kuala Lumpur in December 2018.
According to the CORE Precious Development, the link bridge, which was fabricated off-site, has a width spanning two car lanes and is over three storeys above ground.
Hong Leong Investment Bank (HLIB) Research has maintained its “Neutral” rating on the construction sector and said it prefers to take a longer term view. In a sector update on Monday (July 3), the research house said domestic re-rating catalysts are well anticipated by the market.
MK Land Holdings Bhd says it has valid and reasonable grounds to stay the enforcement of an RM18.36 million arbitration award that favours Crest Builders Sdn Bhd (CBSB), and to set it aside.
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