"The High Court decided that the allegations disclosed no reasonable cause of action against the developer; that they were frivolous and vexatious; and/or an abuse of the court process," said the developer.
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"The impact of the Covid-19 pandemic, global lockdowns and advice against social gatherings have all contributed to making it operationally unsustainable for us."
He said this was as the Health Ministry was nearly done with Covid-19 screenings for detained migrant workers as well as personnel in charge at four immigration depots at Bukit Jalil, Semenyih, Sepang and Putrajaya.
Since last month, Malaysian hotels have started to receive guests and forward bookings look promising, a recent survey by the Malaysian Association of Hotels (MAH) reveals.
Some of these hotels were long established, yet stood little chance against the ravages of the coronavirus, whose impact on the tourism sector has been particularly devastating.
DBE, which stands for Ding Brothers Enterprise, was founded by its former chairman Datuk Ding Chong Chow and his brother Ding Choon Yung in 1986. The Dings gradually exited DBE after the Doh family — who have a property development business and are well known among Sitiawan folk — took control of the company.
The return of the HOC was among the measures taken to boost the property sector under the Penjana Short-term Economic Recovery Plan announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday.
“We would like to take this opportunity to express our gratitude to the Government for taking note of our proposals during our various engagements.”
CBRE|WTW managing director Foo Gee Jen: But the HOC should also be extended to the secondary market. On average, about 65% of transactions are done in the secondary market in a given year.
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