Its engineering, construction and environment revenue jumped 4.5 times to RM467.65 million from RM103.49 million. Topline from property development and investment also grew 9%.
Pasukhas said the claims launched against its 70%-owned unit Pasukhas Construction Sdn Bhd by the main contractor were over alleged wrongful repudiation and negligence in performing the work.
Ahmad Zaki group managing director Datuk Seri Wan Zakariah Wan Muda said its effort of balancing project-based income with income generated through recurring sources are now "bearing fruit".
The group, which produces and sells firefighting equipment, said the construction contract was awarded by Pencala Jaya Sdn Bhd to its wholly-owned unit, Fitters Construction Sdn Bhd.
An Umno politician and member of parliament for Kota Tinggi, Johor, the 53-year-old Noor Ehsanuddin is formerly a board director at Felda Investment Corp Sdn Bhd (FIC). He was appointed to FGV’s board in July 2013.
To date, Tambun Indah has launched more than 8,400 units of mainly residential properties in Penang, with total GDV of around RM3.2 billion.
The rejection has affected DRB-Hicom’s plan to develop a boutique luxury mixed development project on the island to replicate the success of Thailand’s Phuket and Koh Samui and Indonesia’s Bali.