GSH Corporation Limited announced on Nov 2 that its subsidiary Investasia has appointed CRCG Malaysia as the new main contractor of its Coral Bay project in Kota Kinabalu, Sabah.
CRCG Malaysia replaces NTSJ Construction whose contract was terminated in April as a result of NTSJ’s breaches which delayed the progress of the Coral Bay project.
CRCG Malaysia is wholly owned by China Railway Construction Group, a core subsidiary of China Railway Construction Corporation (CRCC).
In Malaysia, CRCG Malaysia’s projects include The Four Seasons Hotel in Kuala Lumpur, Coronation Square Tower 5 in Johor, The Dorsett Service Apartment in Subang, and Plaza Rakyat Towers 2 and 3 in Kuala Lumpur.
“The new main contractor CRCG Malaysia had taken possession of the project site since June,” says Gilbert Ee, GSH’s chief executive officer (CEO). “We have full confidence in their ability to manage the construction and delivery of the Coral Bay project without any significant delay to the construction schedule.”
Completion of the project is expected to be some time in the first quarter of 2024.
Shares in GSH closed flat at 16 cents on Nov 2.