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.
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.
