SINGAPORE – Troubled construction company Greatearth has started the process of winding up, a week after their shock closure of five Build-To-Order (BTO) project sites which caused more than 2,900 home buyers to face longer delays.
Mr Goh Eng Hwee, the director of Greatearth Corporation and Greatearth Construction has filed a statutory declaration of the company’s inability to continue business.
Professional services firm PwC has been appointed as provisional liquidators for the companies on Friday (Sept 3).
A creditors meeting will be held on Sept 27.
The two related companies Greatearth Corporation and Greatearth Construction were the main contractors for the five affected BTO projects, which comprise a total of 2,982 units. The projects are Sky Vista @ Bukit Batok, Senja Heights and Senja Ridges in Bukit Panjang, Marsiling Grove in Woodlands and West Coast Parkview in Clementi.
Works at the five sites have stopped since Aug 20.
The Housing Board had informed home buyers that the projects would be further pushed back, although it did not specify the length of the delay.
New contractors will be appointed as soon as possible to complete the remaining works, said HDB.
The completion dates for these projects had already been pushed back because of manpower and supply disruptions in the construction sector caused by the Covid-19 pandemic.
Greatearth was also the main contractor for two public projects that are now facing possible hold-ups.
They are the Mandai Crematorium and Columbarium under the National Environment Agency and the Gali Batu bus depot under the Land Transport Authority.
Several subcontractors are facing heavy financial losses on the contracting fees owed them by Greatearth.
Some told ST that they are unable to retrieve valuable unpaid building materials such as steel components as they have been locked out of the work sites.
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