PRG Holdings Berhad (PRG) announced that its subsidiary Premier Construction (International) Sdn Bhd (PCI) has received statutory demands amounting to approximately RM6.42 million from several subcontractors in relation to works carried out for the Picasso Residence Project.
The statutory demands, issued pursuant to Section 466 of the Companies Act 2016, were received by PCI on 10 June 2026 from Messrs The Law Office of Wong & Ang, acting on behalf of the subcontractors.
PCI is a wholly-owned subsidiary of PRG Construction Sdn Bhd, which is in turn wholly owned by PRG.
The claims relate to construction works performed by subcontractors appointed under PCI’s role as the main contractor for the Picasso Residence Project, a development undertaken by Premier De Muara Sdn Bhd in Kuala Lumpur.
The project involves construction activities on a parcel of leasehold land located at Lot 20010, Section 88, Bandar Kuala Lumpur, measuring approximately 14,307 square metres.
PRG said the statutory demands are not expected to have any material operational impact on the group.
However, PCI is required to pay the claimed amounts, secure or compound the sums to the satisfaction of the claimants, or reach an amicable settlement within 21 days from the date of service. Failure to do so may allow the claimants to commence winding-up proceedings against PCI.
