With this kind of PE ratio, better be wary. The company’s news that they owe the architect for professional work but withheld payment is to be noted as well. Rumors has it that the company undercuts the workers.
1. Sabah Related Counter Benefited from 2025 Budget Rm6.7B allocation to Sabah 2. Chief Minister Hajiji Noor- Related counter for Sabah Election play in 2025
The Board of Directors of KTI wishes to announce that the Company had on 28 October 2024 accepted a Letter of Intent (“LOI”) from the Ministry of Tourism, Culture and Environment of Sabah (“the Ministry”) for a joint development of Sabah Cultural Complex (“the Development”) through a Public-Private Partnership (Land Swap).
2. SALIENT TERMS
The total estimated construction value of the Development will be finalised upon the signing of the Contractual Agreement.
The Company is required to outline the construction works, which will include mechanical, electrical, interior design and other related works within six (6) months from the date of acceptance of the LOI. The framework must comply with the conditions set by the State Government as follows:-
Financing will be through Land Swap with KTI; The implementation of Land Swap is only applicable for a parcel of land measuring approximately 65 acres that will be handed over to the Company; and Architect A. Karim will be appointed as the main consultant for the Development.
A Memorandum of Understanding and a formal Contractual Agreement will be entered into between KTI and the Ministry in due course.
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