News about construction

AZSB is to pay the monthly instalments to EPB from March 31, 2023 to Jan 31, 2024, together with interest from the original date of payment stated in a consent judgement.

AZSB is to pay the monthly instalments to UEM Edgenta’s wholly owned Edgenta Propel Bhd (EPB) from March 31, 2023, to Jan 31, 2024, together with interest from the original date of payment stated in a consent judgement.

At the time, Perak Transit said the agreement was in line with its strategy to pursue new opportunities to increase its revenue stream, and to diversify its earnings base and reduce dependency on its existing business.

The group's wholly-owned unit, Sunway Construction Sdn Bhd, received the letter of award from Gopeng Bhd's subsidiary GBS Suria Sdn Bhd, said SunCon in a bourse filing.

K Seng Seng also announced the re-designation of Lee Hai Peng as executive director from independent non-executive director.

As at Nov 30, 2022, AZRB said discussions were still ongoing and as such, AZSB did not make payment that was due.

If found guilty, the duo could face imprisonment of between six months and five years, with whipping, and are also liable to a fine.

SunCon said that barring any unforeseen circumstances, the contract is expected to contribute positively to the group's earnings for the financial year ending Dec 31, 2023 onwards.

"The group expects some uncertainties in its financial performance owing to Covid-19-related issues and fluctuations in building material prices in the short term, especially as a result of the recent Russia-Ukraine war.

The agreement sets out the framework for negotiations and discussions between the parties to establish the detailed terms and conditions about the contractor's performance in design, engineering, procurement, manufacture, supply, construction, erection, testing and commissioning of the electric generation facility.