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The five-year contract was awarded to its 70%-owned unit Expogaya Sdn Bhd, who will supply the concrete to Megamas Jaya Sdn Bhd and its appointed procurement representative, Pembekal Mewah Enterprise Sdn Bhd.

Pestech is disputing the claimed amounts.

Judge Datuk Ahmad Shahrir Salleh said between developers and purchasers, developers have an unequal advantage in bargaining power, and that delivering vacant possession of a property without allowing the purchasers the right to occupy the property is against public policy — even if the sales and purchase agreement (SPA) provides for such a move.

Aizo said the project in Jalan Pantai Dalam includes a 37-storey tower with 440 residential units, a 38-storey tower with 452 units, and a 37-storey tower with 440 units.

In a bourse filing on Tuesday, SEB said the counterclaim was filed by CN Eleco Engineering Sdn Bhd in a follow-up to the original suit filed by MIE Industrial Sdn Bhd, a majority shareholder of SEB with a 69.

Hartanah Kenyalang is involved in construction services targeting institutional buildings such as schools and other public buildings, as well as infrastructure focusing on bridges and roads.

The company said it will focus on the timely completion of its on-going development projects, monetisation of its inventories and prudent financial management to navigate the evolving market environment.

In a bourse filing, KTI said the sub-contract was awarded to Jawat Johan Sdn Bhd, and its tenure is 14 months, starting from Nov 25.

The counter opened at RM1 and at one point rose as much as 48.

The Federal Court was told by the buyers’ lawyer Ranjan N Chandran that out of the 58 who claimed for LAD, only eight had received their payment thus far.