Yong Tai contends that the claims by Kerjaya Prospek are without merit, arguing that Kerjaya Prospek breached fundamental terms of the contract by failing to complete the work on time and not adhering to the specified scope of work.
In a filing with Bursa Malaysia on Thursday, Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd (KP) has filed a writ of summons and statement of claim against Apple 99 for failing to pay the outstanding residual contract sum of RM105.
This contract is deemed as a recurrent related party transaction, as Datuk Tee Eng Ho, the non-independent non-executive chairman and major shareholder of Kerjaya Prospek, also serves as the executive chairman and major shareholder of Eastern & Oriental Bhd.
What now for homebuyers? Homebuyers can be rest assured that their right to claim for damages for late delivery of vacant possession remains unchanged.
In a note on Friday, the research house said Kerjaya’s current outstanding order book stands at RM4.
The house estimated Kerjaya Prospek’s outstanding order book to be at RM4.
Bloomsvale Shopping Gallery comprises 320,000 sq ft of gross floor area and houses 100 retail units across four levels with 230,000 sq ft of net lettable area.
Kerjaya is joining a bandwagon of Malaysian builders, which include Gamuda Bhd and Sunway Construction Group Bhd seeking highly lucrative contracts to build data centres and other industrial projects.
The construction outfit said the increase in revenue for the current quarter under review was mainly because progress of construction work activities has improved.
The two projects will provide earnings visibility of up to four years, group executive chairman Datin Toh Siew Chuon said at Kerjaya Prospek Property's financial results briefing on Tuesday.
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