18 June 2013
In a filing with Bursa Malaysia, the airport operator said it had issued the Certificate of Non-Completion to UEMC-Bina Puri for its inability to complete the work by the approved deadline of June 15.
“The LAD of RM199,445.40 per day is hereby invoked beginning June 16,” MAHB said.
To recap, Bina Puri Holdings Bhd’s job is to construct a main terminal, a satellite terminal and the piers at klia2, in a joint venture with UEM Construction Sdn Bhd.
Its portion of the project, which is 40%, is worth RM400mil of the total RM997.2mil contract, which commenced in August 2010.
The klia2 project has been delayed twice, first targeted for completion in April 2012 before being pushed forward to June 28 this year. MAHB has not announced a new date for the opening of klia2.
Earlier, MAHB had announced that the contractors for klia2 might face difficulties in meeting the June 28 deadline.
The airport operator had also decided not to grant further extensions to the contractors who had failed to meet the deadline and imposed LAD on the respective contractors.
klia2 is expected to handle 45 million passengers per annum. The new low-cost carrier terminal will have 60 gates, eight remote stands and 80 aerobridges.
Separately, in an earlier report, Maybank Investment Bank Researchsaid too much focus had been placed on klia2’s completion date, somewhat overshadowing MAHB’s solid fundamentals.
It estimates that klia2 would be ready for operation at the end of first-quarter 2014, nine months from its latest June 28 target.
The project cost could rise to RM4.3bil, up from the original RM3.9bil estimate, it further stated.