“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.
The projects involve two serviced apartment blocks, which are a 43-storey tower with 848 units (Plot 1) and a 41-storey tower with 735 units (Plot 2).
The contract involves the construction of residential units across two phases.
The contract was awarded to Ageson Kensetsu Sdn Bhd, a wholly-owned subsidiary of TXCD, by Vestland Resources Sdn Bhd.
Fajarbaru said the work is scheduled to begin on April 11 and will span nine months, with completion expected by Jan 10, 2026.
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