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KUALA LUMPUR (Nov 25): KPS Consortium Bhd is suing property developer Nautical Wealth Sdn Bhd and two individuals for an alleged breach of the development agreement (DA) for a project in Rawang. The group is claiming up to RM59.7 million in damages.
In a filing with the stock exchange Friday, KPS Vonsortium said the project, known as 928 Corporate Park @ Rawang, comprises 54 units of factories to be built. The DA was signed in April 2015.
“As a result of the breach of DA, the plaintiff had suffered severe loss and general damages,” KPS Consortium said.
The details of the damages sought were however not disclosed.
Shares of KPS Consortium closed one sen or 2.13% lower at 46 sen Friday.
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