The Board of Directors of Central Global Berhad (“Company”) wishes to announce that Proventus Bina Sdn. Bhd. (“Claimant”) [a wholly-owned subsidiary of CIC Construction Sdn. Bhd. which in turn is a wholly-owned subsidiary of the Company] had commenced an adjudication proceeding pursuant to CIPAA 2012 against Aspen Vision Builders Sdn. Bhd. (“Respondent”).

The Claimant’s dispute against the Respondent arose in relation to the main building works carried out by the Claimant for the Respondent concerning the following project (“Project”): -

“Main Contract Works for Proposed Construction of 1 Block of 29 Storey Building (Strata) Comprising of 8 Storey Podium Including 4 Unit Shoplot (Level 1) and Carpark (Level 2 – Level 8) 19 Storey Soho Development (227 Unit) (Level 9 – Level 27) 2 Storey of Public Facilities (Level 28 – Level 29) on Lots 1248, 1249, 1250 & 1251, Jalan Sungai Pinang, Section 9W, Bandar Georgetown, D.T.L., Penang for Aspen Vision Builders Sdn. Bhd.”

The Claimant had on 23 April 2025 served a payment claim dated 22 April 2025 (“Payment Claim”) to the Respondent seeking the following:

1. RM1,648,366.79, being the outstanding certified but unpaid sum;
2. RM3,577,574.67, being the release of retention sum;
3. RM69,350.00, being the outstanding final account sum;
4. RM374,466.03, being late payment interest for outstanding certified but unpaid sum as at 22 April 2025;
5. RM685,931.33, being late payment interest for retention sum as at 22 April 2025;
6. RM8,081.46, being late payment interest for outstanding final account sum as at 22 April 2025;
7. Late payment interest at the rate of 7.65% per annum on the sum of RM5,295,574.67 (being the amount of outstanding certified but unpaid sum + retention sum + outstanding final account sum), calculated from 23 April 2025 until the date of full and final payment; and
8. Costs.

The Respondent did not submit any Payment Response within 10 working days from the date of service of the Payment Claim.

In this respect, the Claimant had, on 20 May 2025, proceeded to take steps towards referring the aforesaid payment dispute arising from the Payment Claim to adjudication pursuant to Sections 7 and 8 of the CIPAA 2012.

The Claimant is represented by Messrs Lee & Poh Partnership in the adjudication.

This announcement is dated 21 May 2025.