PETALING JAYA: KSK Land Sdn Bhd (KSK), the developer of the luxury 8 Conlay project in Kuala Lumpur, has decided to terminate its contract with Grand Dynamic Builders Sdn Bhd (GDBSB), a subsidiary of GDB Holdings Bhd.

In a statement today, KSK said the difficult decision to terminate the contract between Damai City Sdn Bhd (DCSB), a wholly-owned subsidiary of KSK Land Sdn Bhd, and GDBSB, follows a failure to achieve “agreeable solutions to various disputes”.

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“(These issues were in relation to) construction site matters over a period of the last nine months, including scope of work, construction programme, and financial instalment payments following the Covid-19 pandemic,” it said.

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Throughout the process of discussions, KSK said there has also been an increasing number of conditions imposed by GDBSB, culminating in a series of demands communicated on April 4.

“In the communication, GDBSB requested for DCSB to novate all existing nominated subcontractors (NSCs) within a two-week period, and to take on all liabilities and responsibilities thereafter as well as for any matters arising prior to the determination of the NSCs,” it said.

GDBSB had also asked to be removed from the main builder works, and for DCSB to pay for the loss of profits arising from that.

“These stipulations are extremely one-sided and unreasonable on the part of GDBSB as 8 Conlay’s main contractor, and despite best efforts to find a viable solution for each matter, it has become impossible for KSK and DCSB to accommodate or fulfil them,” it added.

Since then, KSK has been in discussion with new potential contractors, including Conlay Construction Sdn Bhd.

8 Conlay is a luxury mixed-use development comprising a four-storey retail block, the Kempinski Hotel in Malaysia, and two residential towers.

is this old news or another contractor?

sape beli boleh 14 floor dah

Old news

cukur im not affected sebab poorfag

so abandon ??.. or one party to build ??

rip those who paid RM3200/sqft, RM1/sqft maintenance fee units just to live within walking distance to Pavilion

CONlay.... U have been warned

CONNEDLAYLOUMOU

How len rip lo

Why have we been so blind

how many years already kena con

CLLM > DLLM

Cashflow problem?

Will kena blacklisted by kpkt or not?

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GDB Holdings lifts suspension on 8 Conlay project

BUSINESS
Monday, 09 Jan 2023 6:04 PM MYT

PETALING JAYA: GDB Holdings Bhd has lifted its suspension of works on the 8 Conlay project.


The construction services firm said it is set to resume facade works for Tower A pursuant to the terms of agreement and the supplementary correspondences, based on the employer's instruction issued to the architect for the forthcoming issuance of Architect's Instruction under Clause 21.4 of the Persatuan Arkitek Malaysia (PAM) contract.

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This was following the receipt of partial payment towards outstanding sums owed by project owner Damai City Sdn Bhd.

GDB is the main contractor for 8 Conlay across its three towers. GDB will proceed to remobilise and recommence for the full scope of works for the 8 Conlay project in early April 2023, subject to Damai City fulfilling the agreed terms and scheduled full settlement of outstanding sums.

“With the requisite conditions fulfilled and uplifting of suspension of works together with the forthcoming issuance of the Architect Instruction, we will remobilise and recommence façade works for Tower A of 8 Conlay pursuant to the terms of agreement,” group managing director Cheah Ham Cheia said in a statement.

GDB’s current order book amounts to RM1.3bil, which provides earnings visibility until the financial year ending Dec 31, 2024.


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This post has been edited by Raddus: Apr 19 2023, 09:57 PM

alot of developer depend on buyer & banker to have cashflow to run the project. If contractor fucked up & slow down the progress. Developer equally fucked up.

developer tried to hardball contractor, obvious developer cashflow screw up the project but still expect contractor take all the fault and financial loss and finish it on time

Con 9 7 Lay (you)

name already said want to con 9 U.

even walking distance also sure got driver one lah



btw

buyer's list

https://forum.lowyat.net/topic/3196595/+140

isn't this link to kuok group

how can kuok got cash flows problem