WZR Property urges top-level intervention in long-standing Maldives contract dispute
KUALA LUMPUR: Property developer WZR Property Sdn Bhd, a subsidiary of WZR Group of Companies, is calling for top-level diplomatic intervention from the government to help settle a long-standing business-to-government dispute with the Maldives.
The company had previously initiated legal action against the Maldives government over an alleged contract breach.
WZR Property said the official visit by Maldives President Dr Mohamed Muizzu to Malaysia offers a timely chance for Malaysian authorities to address the matter.
Group executive director Wan Nadzir Wan Mohamad highlighted that the ongoing dispute is affecting WZR's operations and risks creating negative perceptions about the overseas investment prospects for Malaysian businesses.
Wan Nadzir also revealed that the Malaysian government has been consistently helping to engage with the Maldives authorities at the government-to-government level over the years regarding the matter.
'We are truly grateful for our government's unwavering support, and we remain hopeful that the upcoming high-level discussions will finally resolve this longstanding issue, allowing us to strengthen and enhance the partnership between Malaysia, the Maldives, and their respective business communities,' he said.
Despite the challenges, Wan Nadzir expressed WZR's continued confidence in the Maldives' prospects, highlighting the country's future potential.
'We are optimistic that these matters can be settled amicably and swiftly, helping to rebuild trust and open new opportunities for prosperity between our two nations,' he said.
Dr Mohamed, who arrived yesterday for a four-day official visit to Malaysia, was accorded an official welcoming ceremony at Perdana Putra Complex in Putrajaya earlier today.
Muizzu was received by Prime Minister Datuk Seri Anwar Ibrahim. Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Youth and Sports Minister Hannah Yeoh, Dewan Rakyat Speaker Tan Sri Johari Abdul and Public Service Director-General Tan Sri Wan Ahmad Dahlan Abdul Aziz.
Muizzu's maiden visit to Malaysia since becoming president in November 2023 was at the invitation of Anwar.
Founded in 1999, WZR Property is a Class A Bumiputera contractor holding a CIDB Grade 7 licence, with a track record of delivering residential and commercial developments across Malaysia.
Expanding into international markets, including the Maldives, is part of WZR Property's broader strategy to promote Malaysian construction expertise on the global stage.
On Aug 7, 2021, it was reported that WZR Property had filed a lawsuit against the Maldives government over an alleged breach of contract involving the construction of the Ministry of Finance building in Hulhumalè.
The adjudication ordered the Maldives government to pay WZR Property US$22.82 million. However, the company stated that full settlement of the sum is still pending.
In addition, WZR Property is separately pursuing a US$61.2 million claim for damages linked to the same contract dispute.
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