28-04-2025
- Business
- New Straits Times
WZR seeks high-level intervention over dispute in Maldives
KUALA LUMPUR: Home-grown builder WZR Property Sdn Bhd is seeking intervention at the highest diplomatic level to resolve its long-standing business-to-government (B2G) dispute in the Maldives.
The company had a few years ago filed a lawsuit against the Maldives government for alleged breach of contract.
WZR told a news portal today that the official visit to Malaysia by the Maldives president Dr Mohamed Muizzu presents a timely opportunity for Malaysian leaders to raise the issue.
Group executive director Wan Nadzir Wan Mohamad said the unresolved issues not only disrupt WZR's business operations but also send the wrong signal about the investment climate for Malaysian enterprises seeking to grow overseas.
He also shared that the Malaysian government has been actively assisting in engaging the Maldives government at the government-to-government (G2G) level on this matter over the years.
"We are truly appreciative of our government's continued support, and we hope that with the upcoming high-level meetings, we can finally bring this legacy issue to a close and move forward to build a stronger, mutually beneficial partnership between Malaysia, the Maldives, and their respective business communities," he said.
Despite the setback, Wan Nadzir reaffirmed WZR's bullish outlook on the Maldives, noting its future potential.
"We believe that we can resolve these issues amicably and quickly so as to restore confidence and pave the way for greater prosperity between our two nations," he said.
Established in 1999, WZR is a Class A bumiputra contractor with a CIDB Grade 7 license, known for delivering residential and commercial projects across Malaysia.
Its foray into international markets, including the Maldives, forms part of a broader strategy to showcase Malaysian construction capabilities on the world stage.
On August 7 2021, Business Times reported that WZR had submitted a legal suit against the government of Maldives for breaching the contract on the development of the Ministry of Finance building in Hulhumalè.
The adjudicator ordered a payment of US$22.82 million to WZR but the company said that the payment has yet to be fully settled to date.
Separately, WZR is also pursuing a further US$61.2 million claim for damages due to an alleged breach of contract.
