KUALA LUMPUR (Aug 10): Ecobuilt Holdings Bhd said its wholly-owned unit Eko Bina Sdn Bhd has issued a notice of adjudication to Golden Wave Sdn Bhd over a payment dispute relating to a serviced apartment and retail units project in Kota Kinabalu.

Eko Bina is seeking RM23.16 million from Golden Wave with regards to payments due during the construction process, said Ecobuilt in a bourse filing.

It is also seeking interest on the amount, adjudicator’s fee and legal costs.

The group said Eko Bina's solicitors had served the notice of adjudication issued under the Construction Industry Payment and Adjudication Act 2012 to the lawyers acting for Golden Wave to refer the disputes arising from the payment claim to adjudication.

The contract was announced by Ecobuilt in January 2021. The group said Eko Bina, previously known as E&J Builders Sdn Bhd, was appointed by Golden wave as the main contractor for the retail and serviced apartments project along Jalan Wawasan in Sabah's capital city.

The project was scheduled to be completed in May 2022.

Shares in Ecobuilt settled unchanged at 7.5 sen on Thursday, valuing the group at RM29.58 million. The stock has declined 31.82% year to date.

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