This article first appeared in The Edge Malaysia Weekly on February 2, 2026 - February 8, 2026

SEVERAL local property developers have submitted bids for KSK Group’s stalled 8 Conlay project in Kuala Lumpur, sources tell The Edge, even as receivers move ahead with the sale of the half completed RM5.4 billion development after years of legal disputes and financial deadlock.

At least four developers — TS Law Land Holdings, Mah Sing Group Bhd (KL:MAHSING), EXSIM Group, and either Pavilion Group or Malton Bhd (KL:MALTON) — are understood to have participated in the tender conducted by receivers and managers Adam Primus & Co, although the final number of bidders could be higher, multiple sources say.

The bids mark a critical juncture for 8 Conlay, once touted as KSK Group’s flagship property debut but later derailed by construction stoppages, contractor disputes and multiple court actions involving project owner KSK Land Sdn Bhd and former main contractor GDB Holdings Bhd (KL:GDB), ultimately pushing the project into receivership.

Although the project has attracted multiple bids, sources caution that reviving the mega development will be far from straightforward, citing unresolved legal claims, substantial funding requirements to restart construction, partially completed structures and uncertainty over how much control KSK Group is prepared to relinquish.

“Two names that have surfaced are TS Law Group and Mah Sing, with EXSIM also showing interest, and Pavilion being widely mentioned,” says a source from the property industry.

He points out, however, that the process remains at an early stage, with the tender still under evaluation.

“We have no visibility on when the tender outcome will be announced. The receivers are probably still assessing the options. And I don’t think the original owner (KSK Land) is prepared to let go cheaply or easily at this point,” says the source.

Given the project’s proximity to Pavilion Kuala Lumpur and the Pavilion Hotel, Pavilion Group or Malton — both linked to real estate tycoon Tan Sri Desmond Lim Siew Choon — have been cited as natural bidders for the 8 Conlay site.

Another source downplays that speculation, however, describing Pavilion’s interest as unlikely for now.

“There’s a lot of market talk that Desmond Lim is interested, but I don’t think it’s something they want to take on at this stage. Reviving the project would be highly complex and operationally messy for a developer,” the source explains.

Meanwhile, local contractors and subcontractors are said to be quietly rooting for bidders other than Pavilion or Malton.

Industry sources note that Pavilion Group and Malton are more likely to award construction packages to WCT Holdings Bhd (KL:WCT) — another Desmond Lim-linked company — or Mainland Chinese contractors if they secure the project, potentially sidelining other local players.

Pavilion Group is a developer focusing on premium large-scale retail and integrated mixed-use developments in prime city locations. Through Pavilion Real Estate Investment Trust (KL:PAVREIT), the group owns and operates major shopping malls, including Pavilion Kuala Lumpur and Pavilion Bukit Jalil, as well as hotels such as Pavilion Hotel Kuala Lumpur and Banyan Tree Kuala Lumpur.

Notably, some of Pavilion Group’s most notable projects — including Pavilion Kuala Lumpur, Pavilion Bukit Jalil, Pavilion Hotel Kuala Lumpur and Pavilion Embassy — were completed by Malton’s own construction unit.

Meanwhile, WCT is also involved in property development, construction, shopping malls and hospitality businesses.

As for the TS Law Group — controlled by property and steel magnate Tan Sri David Law Tien Seng — its property arm TS Law Land has been introducing the Skyline series of transit-oriented developments in recent years.

The group built its headquarters, TSLAW Tower, a stone’s throw away from the Tun Razak Exchange (TRX). The 48-storey retail and corporate office tower was completed in 2021 for RM350 million.

Meanwhile, EXSIM Group and Mah Sing are known to be developers focusing mainly on high-rise residential projects.

To recap, the 8 Conlay project — once a highly touted property debut for KSK Group — was officially put up for sale by Adam Primus & Co at end-August 2025. Prospective buyers had until Nov 15 last year to submit their offers.

The management of KSK Group claimed, however, that the company, together with its white knight investor, remains “steadfast and committed” to pursuing the rescue of 8 Conlay development project.

In a document dated Aug 26, 2025, sighted by The Edge, KSK Group told its partners and stakeholders that it was in “deep shock and concern” over the “sudden and unexpected development” at the project, following the publication of a public notice in the media declaring that 8 Conlay was open for tender.

“This news came as a complete surprise, as concrete steps have already been taken to secure the project’s rehabilitation,” said KSK Group.

“This abrupt change is not only unexpected but also undermines the significant progress that had already been made towards stabilising and rescuing the project. It raises serious concerns about the process and the protection of stakeholders’ interests.”

KSK Group — formerly known as Kurnia Asia Bhd — sold its Malaysian insurance arm, Kurnia Insurans (Malaysia) Bhd, to AmG Insurance Bhd for RM1.63 billion in 2012. The group was subsequently delisted in November 2013 after major shareholders took it private.

Under the leadership of executive chairman and founder Tan Sri Kua Sian Kooi, KSK Group then rebranded its overseas operations before entering property development. By 2019, the former insurance salesman, who never attended university, was the country’s 35th richest man, with a net worth of US$420 million.

KSK Group’s property venture began in 2013 when its property arm, KSK Land, launched 8 Conlay in November 2015. The project was promoted as an integrated development featuring what was touted as the world’s tallest twisted twin-tower residences.

Situated on a 3.65-acre parcel of freehold land in Jalan Conlay, adjacent to the bustling Bukit Bintang district, the development was to be a mixed-use commercial venture, comprising a 61-storey Tower A, a 56-storey Tower B, a 72-storey Tower C, a 10-storey podium for retail and amenities, as well as five levels of basement parking.

The project soon became mired in a protracted legal battle between KSK Land’s unit and its main contractor, GDB, leading to construction delays and eventual receivership.

GDB was appointed main contractor for the iconic three-tower luxury development in November 2020, securing a RM1.25 billion contract — the largest in the company’s history. The project initially progressed smoothly and, in November 2021, KSK Land celebrated the structural completion of Tower A, the first of the YOO8-branded residences.

The situation changed dramatically in August 2022, when GDB suspended work on the project because of payment issues. The construction firm sued KSK Land for RM120.7 million, claiming a breach of obligations under a corporate guarantee.

In January 2023, GDB lifted the suspension and resumed work on Tower A’s façade after receiving a partial payment. The company withdrew its lawsuit in March 2023 and recommenced construction on Tower A, following another partial payment, though work on other sections remained suspended.

KSK Land failed to pay the outstanding balance in April 2023, however, and subsequent negotiations failed to reach a settlement.

In late April 2023, both GDB and KSK Land served notices to terminate the contract. KSK Land officially ended GDB’s RM1.25 billion contract as the main contractor for the development. A month later, GDB filed a fresh lawsuit against KSK Land to recover RM102.1 million for services rendered and initiated adjudication proceedings under the Construction Industry Payment and Adjudication Act 2012.

KSK Land had previously denied rumours of financial difficulties plaguing the project. In a June 2022 interview with The Edge, KSK Land managing director Joanne Kua Ying Fei — daughter of Sian Kooi — said the company “remains financially strong with sufficient resources to complete the development”, despite acknowledging industry-wide post-pandemic supply chain challenges.

At a November 2021 ceremony marking the structural completion of Tower A, Joanne told reporters that the handover was targeted for end-2022, with the Kempinski Hotel and other components to follow in 2023. As at late 2021, it was reported that Tower A was 80% sold and Tower B 40% sold, with prices averaging between RM3,370 and RM3,395 psf. As for Tower C, KSK Land had, in late 2020, secured a RM650 million syndicated facility from Malayan Banking Bhd (KL:MAYBANK) and Bank Pembangunan Malaysia to complete it.

In June 2023, Conlay Construction Sdn Bhd (CCSB) was announced as the new main contractor for the project. According to a joint press statement by KSK Land and CCSB, the new contractor had begun mobilising its site team, machinery and equipment on June 26, 2023.

A new completion timeline was also announced: Tower A and the retail podium were projected for completion in the second quarter of 2024, with the handover of vacant possession (HOVP) planned for 3Q2024; Tower B was expected to be completed by 4Q2025, with HOVP to begin end-2025; and the 8 Conlay Kempinski Hotel was slated for completion in early 2Q2025, with its opening planned for 4Q2025.

At this point, Tower A was 61.6% completed, with the main focus shifting to its interior. Tower B was at 37.27% completion, with construction focusing on the building’s façade. Since these announcements, there have been no further public updates on the project’s progress.

Meanwhile, legal battles between KSK Land and GDB continued. In July 2023, a month after CCSB’s appointment, an adjudicator ordered KSK Land to pay GDB RM97.8 million.

In January 2024, GDB filed a winding-up petition against KSK Land after the court set aside the latter’s restraining order against its creditors. This petition followed a court order that had previously allowed KSK Land to summon a meeting with creditors as part of a proposed scheme of arrangement.

Meanwhile, receivers and managers had been appointed over the property and assets at the 8 Conlay site with effect from Jan 5, 2024.

In a notice dated Jan 10, 2024, Adam Primus & Co managing partners Datuk Adam Primus Varghese Abdullah and Macpherson Simon stressed that Sian Kooi, Joanne and others no longer had authority over the assets.

In April 2025, GDB secured a court order to enforce an adjudication award of RM59.32 million against KSK Land, just over half of the original RM102.1 million claim. Separately, in February 2025, an adjudicator ruled that KSK Land’s wholly-owned unit Damai City Sdn Bhd must pay GDB RM82.67 million over unfulfilled payment obligations. It remains to be seen who is in the driver’s seat and whether the once promising multibillion-ringgit project will prove propitious to those eyeing control. 

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