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MAHB imposes LAD penalty of RM9.1m on KLIA aerotrain contractors - 91 days late, RM100k a day
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MAHB imposes LAD penalty of RM9.1m on KLIA aerotrain contractors - 91 days late, RM100k a day
If your new property isn’t handed over by an agreed date as stated in the sale and purchase agreement, the developer has to pay liquidated ascertained damages (LAD) to buyers. LAD also exists in government infrastructure projects, and the compensation is RM100,000 per delayed day for the KLIA aerotrain. As the KLIA aerotrain contractors were 91 days late in handing over the the project, Malaysia Airports (MAHB) is claiming a LAD penalty of RM9.1…
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