KUALA LUMPUR (Jan 10): Shares in GDB Holdings Bhd, the main contractor of the 8 Conlay mixed development, rose 7.4% in early trade on Tuesday (Jan 10) after the company said it will now resume work on a part of the project as it has received partial payment from the project owner, Damai City Sdn Bhd, a unit of KSK Land Sdn Bhd.
At 9.02am, GDB had added two sen to 29 sen, with 5.65 million shares traded.
The project was previously delayed as GDB suspended work due to payment issues.
In a statement on Monday, GDB said it would resume façade work on Tower A, and that full work on the project will resume in early April 2023, provided Damai City meets the agreed terms and settles the outstanding amounts as scheduled.
GDB to resume work on 8 Conlay after receiving partial payment from KSK Land unit