It means developer does not manage to deliver VP within the period stated in the SPA and there is no significant construction activities at site for 6 months continuously.

This is really bad. I can understand government giving extensions during MCO, CMCO etc. But they have fully opened up the country for so many months already, and yet still giving extension to these developers! This will set a very bad precedent. Anytime any developer faces issue, just request extension from KPKT.

As much as the the government need the land sales and tax revenue from developer, they need to understand that ultimately it is the property buyer/investor that is driving the market. If we lose confidence in buying new properties, most developers will not survive.

Not sure whether this is the reason or not, but Boustead's naval shipyard is in deep shit over the LCS case.