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The manufacturing facility covers an area of about 133,000 square metres.

It will be a mixed-use development comprising two 28-storey towers — Tower A with 64 condominium units and Tower B with 220 Citadines serviced residences managed and operated by Ascott — and a three-storey public plaza with commercial spaces.

The contract lasts 40 months, with completion expected by July 9, 2028.

Ho Hup said details of the scheme of arrangement will be announced later.

“As a result of the above decision, the adjudication decision has been enforced by virtue of Section 28 of the Construction Industry Payment and Adjudication Act 2012 as if it is a judgement or order of the High Court.

Of the West Coast Expressway’s 11 sections, eight have been completed and begun operations — the most recent being Section 2, which commenced in January this year.

Analysts said the development reinforces EcoWorld’s long-term growth prospects from resilient demand for industrial assets, while the price tag for the project land is also fair.

The construction company said it received a demand notice from Insas Credit & Leasing Sdn Bhd over Ho Hup’s role as guarantor for its wholly-owned subsidiary Bukit Jalil Development Sdn Bhd, which failed to repay the outstanding loan amount.

The industrial park, to be named Eco Business Park VII (EBP VII) is to be developed over nine years.

Cheng Kiat, 77, established Bina Puri in 1975 and has served on its board since Nov 5, 1990.