KUALA LUMPUR: Construction and property development group SBC Corp Bhd and Sabah Ports operator Suria Capital Holdings Bhd
have agreed to restructure part of the payment terms for their joint venture Jesselton Quay project in Kota Kinabalu.
In a Bursa filing, SBC Corp said the payment restructuring was due to the impact of the Covid-19 pandemic which had affected the sentiment of the tourism and property market.
In 2013, Suria Capital had entered into a joint venture agreement with SBC Corp to develop Jesselton Quay.
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