Taghill’s wholly owned unit Siab (M) Sdn Bhd has agreed with the client, City Centre Columbarium Bhd, to mutually terminate the contract awarded in March 2021, according to the construction outfit’s bourse filing on Tuesday.
The suit revolves around a RM28.
James Liew Vun Tak acquired an 11.
On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.
The project includes four business blocks, one serviced apartment block, and a six-level podium parking structure with residential facilities.
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
The 18-storey commercial complex comprises 271 hotel rooms, offices, restaurants, cafes, function rooms, banquet halls and swimming pools.
The properties, comprising two pieces of leasehold industrial land in Kawasan Perindustrian Gebeng, have a combined land area of about 17.
The construction group said the contract was awarded by NextDC Sdn Bhd, the Malaysian unit of Australia's data centre operator NextDC Ltd.
Construction stocks, in particular, have declined, but premium price multiples have not been fully reversed, JPMorgan said on Friday.
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