A Malaysian lifestyle furnishing store has estimated that it suffered some S$800,000 worth of losses due to a late handover of premises by nex shopping mall.
King and King Wong said it was handed the premises more than a month late – on December 1, instead of mid-October.
The delay saw the lifestyle furnishing store missing out on the early crowds and potential revenue.
The store said the delay was due to defects in design at the newly-opened mall in Serangoon.
It has since successfully asked the mall owners for an extension of eight weeks to conduct renovation works, the Malaysian company said.
It added that the mall had also waived the rental costs during this period.
Source : Channel NewsAsia – 15 Dec 2010