TOURISM-RELATED property developer Yong Tai Bhd has filed a counter-claim against Kerjaya Prospek (M) Sdn Bhd (KP) which is a wholly-owned subsidiary of Main Biard-listed construction firm Kerjaya Prospek Group Bhd for a total sum of RM76.6 mil.
Filed through its through its wholly-owned subsidiary Apple 99 Development Sdn Bhd, the Melaka-based Yong Tai is seeking damages from KP for delays, failure to complete works and other contractual breaches.
They include claims for losses related to the Apple Serviced Suites, Courtyard by Marriott Melaka, reparation works and utility bill expenses.
The said counter-claim is in response to a writ of summons and statement of claim (SOC) served by KP on Aug 23.
“Yong Tai asserts that KP is not entitled to specific performance of the settlement agreement due to breaches of the PAM (Pertubuhsn Arkitek Malaysia) contract which have been varied or superseded by the tripartite agreements and the supplementary agreement dated April 12, 2023,” the company pointed out in a media statement.
“The group further contends that any performance obligations under the settlement agreement can be compensated adequately through monetary relief.”
For context, Kerjaya Prospek had on Oct 10 filed a fresh lawsuit against Yong Tai (for corporate guarantee) and its CEO Datuk Boo Kuang Loon (for personal guarantee) over an alleged unpaid contract sum of RM105.14 mil related to a construction project in Melaka, according to financial portal The Edge Malaysia.
In a filing with Bursa Malaysia yesterday (Oct 11), Kerjaya Prospek said KP had in August this year served a writ of summons and statement of claim to both Yong Tai and Boo.
The legal suits are pertaining to the residual contract in dispute which was signed between KP and Apple 99 Development on Feb 25, 2020.
According to KP, Apple 99 Development failed to fulfill its payment obligations under a contract for the construction of a mixed development project in Melaka which includes the Courtyard by Marriott hotel and Apple Serviced Suites.
At the close of market trading yesterday (Oct 11) Yong Tai was down 0.5 sen or 2.27% to 21.5 sen with 886,500 shares traded, thus valuing the company for RM92 mil. – Oct 12, 2024
