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KUALA LUMPUR (April 14): Country Garden Danga Bay Sdn Bhd said on Thursday (April 14) the property developer respects the Federal Court’s decision on Wednesday to not grant the company permission to appeal against late-delivery compensation claims by seven purchasers of properties developed by the firm within Danga Bay in Johor Bahru.
Country Garden Danga Bay said in a statement it will "compensate house owners" for late delivery of vacant possession after the Federal Court decided not to grant the company permission to appeal against the purchasers’ claims.
"Country Garden Danga Bay has always respected the interests of house owners and continued to strive to provide better services to the residents as well as surrounding communities,” Country Garden Danga Bay said.
On Wednesday, the Federal Court dismissed Country Garden Danga Bay’s motion for leave or permission to appeal against damages or compensation awarded to the seven buyers for late delivery of their service apartments.
It was reported that the properties' vacant possession was delivered after more than four years from the originally-scheduled delivery date.
In July 2021, the Court of Appeal also dismissed Country Garden Danga Bay’s appeal for a judicial review against the earlier decision of the Kuala Lumpur High Court and Tribunal of Home Buyers Claims to award damages to the seven buyers.
On Thursday, Country Garden Danga Bay said it would like to confirm that the company’s financial status is resilient with strong support from parent company Country Garden Holdings (CGH).
Among others, Country Garden Danga Bay said that despite the impact of Covid-19-driven movement restrictions and turbulence in the Chinese real estate industry in 2021, RAM Rating Services Bhd had reaffirmed its AA3/Stable rating for CGH’s Malaysian unit’s RM1.5 billion Islamic bond or sukuk programme.
"During the pandemic, the company (Country Garden Danga Bay) observed certain rules and regulations in order to curb [the spread of] Covid-19 infections with [the] intention to protect our staff.
"We are limiting physical presence and number of manpower,” Country Garden Danga Bay said.
As Malaysia transitions to the endemic phase since April 1, 2022, Country Garden Danga Bay said it will mobilise manpower in phases to undertake overdue property maintenance work.
Edited by Chong Jin Hun
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