Jiwa Holdings to complete KLIA 2 renovation within estimated date

Jiwa Holdings Sdn Bhd, a subsidiary of Flonic Hi-Tec Bhd, is expected to complete renovation and fit-out works at level 2M of the Kuala Lumpur International Airport 2 (KLIA2) within the estimate date of completion.

If the company fails to deliver on time, liquidated and ascertained damages will be imposed by Wesria Food Sdn Bhd at a rate of RM500 per day from the estimate date of completion.

In a filing to Bursa Malaysia, the company said there were no significant risk factors associated with the award apart from the construction, human and normal business risks inherent in the construction industry.

It said the board has and would continue to exercise due care in considering the risks associated with the award and would take appropriate measures to plan and mitigate the said risks.

Failure to open the airport on June 28 would mean a fifth delay in the opening of what has been touted as Asia's biggest low-cost carrier terminal, or LCCT, that can cater to 45 million passengers.

Sources also said that while the airport was about 92% complete, the terminal building had not been fully completed by the contractor a UEM-Bina Puri joint venture.