SG brief: GSH Corp.

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GSH Corp.’s wholly owned subsidiary Investasia has issued a notice of claim for MYR124.8 million against the main contractor for its Coral Bay project, located in Kota Kinabalu, Sabah, in Malaysia, according to a filing to SGX Wednesday.

The company alleged NTSJ Construction (M) made slow progress, with deteriorating performance, and that by March 2022, had failed to make timely payments to subcontractors, and that NTSJ had failed to remedy its default when given the opportunity. The contract was terminated in April, GSH said.

GSH said Investasia has received a notice of arbitration from NTSJ, saying the contract was wrongfully terminated and seeking MYR129.13 million in claims.