Construction Agreement - Pentiumatics Sdn. Bhd. and Syarikat Pembina Maju
Dated this 4th day of April, 1997
Between
PENTIUMATICS SDN. BHD.
And
SYARIKAT PEMBINA MAJU
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CONSTRUCTION AGREEMENT
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M/S W.K. YAP, LOO & CO.
No. 47, 1st Floor,
Jalap Pasar,
34000 Taiping,
Perak.
File Ref: YWK/MISC 61/97
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CONSTRUCTION AGREEMENT
An Agreement made on the 4th day of April, 1997
Between
PENTIUMATICS SDN. BHD. (Company No. 388059-W), a company incorporated in
Malaysia under the Companying Agr. 1965 and having its registered [illegible]
Taijung Bunhah, 11200 Penan [illegible] the one part
And
SYARIKAT PEMBINA MAJU (Business Registration No. IP0001072-U), a firm registered
under the Business Registration Act, 1956 and having its principal place of
business at No. 3, Jalan Medan Taiping 5, Medan Taiping, 34000 Taiping, Perak
(hereinafter referred to as "the Contractor") of the other part.
WHEREAS:
(a) The Owner has purchased all that piece and parcel of leasehold industrial
land held under Pajakan Negeri 4501 Lot No. 8206, Mukim Asam Kumbang, Daerah
Larut & Matang, Negeri Perak with an area of approximately 224,524 square feet
together with the factory building(s) erected thereon (hereinafter referred to
as "the said Factory").
(b) The Owner is desirous of engaging the Contractor to carry out repair and
renovation works on the said Factory more particularly described in the Schedule
annexed herewith (hereinafter referred to as "the Construction Works") and the
Contractor has agreed to undertake the Construction works thereof subject to the
terms and conditions hereinafter appearing.
NOW IT IS HEREBY AGREED AS FOLLOWS:
1. CONSIDERATION
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In consideration of the above premises and the sum of Ringgit Malaysia One
Million and Two Hundred Thousand (RM1,200,000.00) only (hereinafter referred to
as "the Construction Cost") to be paid by the Owner to the Contractor
progressively in accordance with the Schedule annexed herewith, the Owner hereby
appoint the Contractor to carry out the Construction Works and the Contractor
hereby agree to undertake the Construction Works thereof upon the terms and
conditions hereinafter appearing.
2. TIME OF COMPLETION
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The Construction Works to be performed under this Contract shall be
commenced within Fourteen (14) days from the date hereof and substantially
completed within Three (3) months from the date of commencement thereof. In the
event that the Owner is applying for a loan from any
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licensed financial institution to facilitate the whole or part of the
Construction Cost thereof, then the date of commencement of work shall be within
Fourteen (14) days form the receipt of the loan approval.
3. COMPENSATION [illegible]
-------------
The Contractor hereby agrees to compensate the Owner by way of agreed
liquidated damages to be calculated from day to day [illegible] of Ten per
centum (10%) per annum on the Construction Cost for the period occupied beyond
the specified time for the completion of the said Factory.
4. EXECUTION OF CONSTRUCTION WORKS
-------------------------------
4.1 Subject to and in accordance with the terms and provisions of this
Agreement the Contractor shall diligently promptly and in accordance with the
specifications as agreed between the parties hereto construct and complete the
repair and renovation of the said Factory within the stipulated time or any
extension thereof as may be granted by the Owner and in connection therewith the
Contractor shall provide and furnish all materials, apparatus, appliances,
equipment, fixtures, tools, implements and all other facilities as required in
connection therewith the Construction Works on the said Factory.
4.2 The Contractor covenants that all the work shall be done in a good and
workmanlike manner.
5. PAYMENT
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The Contractor shall be entitled to claim progressive payments form the
Owner from time to time by instalments upon the completion of the stages of
works in accordance with the Schedule.
6. FORCE MAJEURE
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The Contractor shall not be liable for any delay or for any consequence of
any delay in the carrying out the Construction Works on the said Factory if such
delay shall be due to fire strike flood accident or any act of God or as
consequence of war or of hostilities (whether war be declared or not) or to any
other cause whatsoever beyond the Contractor's reasonable control. If such
delay occurs then (unless the cause thereof shall frustrate or render impossible
the performance of this contract or shall otherwise discharge the same) the
Contractor's period for performing its obligation under Clause 2 above shall be
extended by such period as the Contractor may reasonably require to complete the
performance.
7. INTEREST ON LATE PAYMENT
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Without prejudice to the Contractor's right to cease work upon default of
payment by the Owner in accordance with Clause 5 above read together with the
Schedule herein, if any of the instalments set out in the Schedule hereto shall
remain unpaid by the Owner at the expiration of Fourteen (14) days from the date
of the Contractor's notification of claim on progressive payment, interest on
such unpaid instalment(s) shall commence immediately thereafter and be payable
by the
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Owner, such interest to be calculated at the rate of ten per centum (10%) per
annum from the due date until the date of full payment thereof.
8. TIME
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Time wherever stipulated herein shall be the essence of this Agreement.
9. SUCCESSORS BOUND
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This Agreement shall be binding upon the heirs, personal representatives,
executors, successors in title and assigns of the parties hereto.
10. NOTICES
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Any notice required to be sent hereinafter shall be in writing and may be
sent by prepaid Registered Post addressed to the party to be served and the same
shall be deemed to have been properly served Seven (7) days after due posting
thereof.
11. COST
----
11.1 The cost for and incidental to the preparation of this Agreement including
the stamp duty thereof shall be borne by the Owner absolutely.
11.2 Each party shall bear their respective solicitors fees.
12. DEFINITIONS & INTERPRETATION
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12.1 Words importing the masculine gender shall be deemed to include the
feminine and neuter genders and vice versa.
12.2 Words importing the singular number shall include the plural and vice
versa.
12.3 The headings are inserted for convenience of reference only and shall not
affect the construction or interpretation of the provisions of this Agreement.
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IN WITNESS WHEREOF the parties have hereunder set their hands and seal the
day and year first above written.
The Common Seal of )
PENTIUMATICS SDN. BHD. )
is affixed hereto in )
presents of: )
............................... ............................
Director Director
SIGNED and DELIVERED by the )
above named Contractor in the )
presence of: )
SYARIKAT PEMBINA MAJU
Manager
YAP WAI KHEONG
Advocate & Solicitor
Taiping
a:Const10A/jv3