Kota Kinabalu: KTI Landmark Berhad has clarified that it has not been awarded the RM70 million Wisma Budaya redevelopment project, contrary to recent media reports.
In a statement, here, Thursday, the Company said what it received was only a Letter of Intent from the State Tourism, Culture and Environment Ministry, together with the relevant statutory bodies, which is essentially an expression of interest to work together, not a confirmed contract.
“A Letter of Intent is just the first step. It means we can start discussions and negotiations, but many conditions still need to be met before any actual contract is signed,” read the statement.
The Company said the project has not been confirmed or awarded yet and that earlier news reports had misunderstood their announcement.
The Company promised to keep the public updated through proper channels and urged everyone to check official announcements on Bursa Malaysia’s website for accurate information.
