KTI Landmark clarifies Wisma Budaya project not a confirmed contract


KUALA LUMPUR: KTI Landmark Bhd has clarified that reports claiming it secured a RM70mil contract for the redevelopment of Wisma Budaya in Kota Kinabalu are inaccurate, stating that it has only received a non-binding Letter of Intent (LOI) from the Sabah Ministry of Tourism, Culture and Environment.

“At this stage, no contract has been awarded to KTI Landmark,” the property developer said in a statement.

As disclosed to Bursa Malaysia on Oct 14, KTI Landmark has only received a LOI from the Ministry of Tourism, Culture and Environment Sabah and relevant statutory bodies.

“The LOI is not a binding award of contract, but merely a basis for further discussion and negotiation, subject to approvals and the signing of a definitive agreement,” it said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

PNB, GLICs to develop 10 bumiputera champion firms by 2030
World Bank: Malaysia shows strong progress in reducing poverty, must now focus on inclusive growth
Nestl� for Healthier Kids marks 15th anniversary, aims for 500,000 students by 2030
Johor a top regional hotspot
Flooring to beat Malaysia’s heat
URA: Why it deserves support
E-invoice exemption threshold up to RM1mil starting 2026, says PM
Ringgit to remain steady, trade within 4.10-4.12 versus greenback next week
Majuhome� built to last
Genting’s high-stakes double-edged win

Others Also Read