The court ordered Kerjaya Prospek's unit Kerjaya Prospek (M) Sdn Bhd to pay Yong Tai's unit Apple 99 Development Sdn Bhd a total of RM20,000 in legal costs, subject to payment of allocator fee.
Yong Tai stated that the preliminary feasibility study estimates that the Lahad Datu project and Tawau project will generate development profits of about RM10.
Kerjaya Prospek’s wholly owned unit Kerjaya Prospek (M) Sdn Bhd (KPM) in November last year filed the adjudication against Apple 99 for an alleged unpaid contract for a mixed development project in Melaka, known as "The Apple".
The adjudicator ordered Yong Tai’s wholly owned subsidiary Apple 99 Development Sdn Bhd pay the sum together with interest to Kerjaya Prospek’s wholly owned unit Kerjaya Prospek (M) Sdn Bhd (KPM), Kerjaya Prospek said in a bourse filing on Tuesday.
The dispute revolves around an alleged outstanding contract sum of RM105.
In a filing with Bursa Malaysia on Friday, Kerjaya Prospek said its wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd (KP), has served a writ of summons and statement of claim to Yong Tai and Datuk Boo Kuang Loon.
Yong Tai contends that the claims by Kerjaya Prospek are without merit, arguing that Kerjaya Prospek breached fundamental terms of the contract by failing to complete the work on time and not adhering to the specified scope of work.
In a filing with Bursa Malaysia on Thursday, Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd (KP) has filed a writ of summons and statement of claim against Apple 99 for failing to pay the outstanding residual contract sum of RM105.
The selling price of RM160 million of the hotel represents a discount of 5.
"We anticipate a successful transformation that will see Encore Melaka thrive as a premier cultural destination.
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