Suncity Group Holdings Ltd. has expanded the scope of work of listed construction firm Megawide Construction Corp. for its gaming complex in the Bay Area Entertainment City, therefore increasing the amount of contract by four times to P26.27 billion from the P6.29 billion.
Suncity said the revised agreement covers “additional works to be carried out by Megawide as main contractor, including, among others, potential variations for design development of the main hotel casino, including additional architectural, structural and civil works and the attendance, as well as the additional work of façade, building maintenance unit and marquee sign; mechanical, electrical, plumbing and fire; extra-low voltage; specialist systems; back of house fitting out; and profit and attendance under the sub-contracts to be awarded to the sub-contractors and additional construction materials to be purchased under the supply contracts to be awarded to the suppliers.”
In November, Suncity announced it was tapping Megawide to build parts of the main hotel casino.
The company said unit Suntrust Home Developers Inc., signed the contract on its behalf with Megawide with 25 percent of the amount paid as advance by Suntrust.
“The balance of the contract sum shall be paid by SunTrust to Megawide on a progress basis commensurate with the completion progress (or percentage completion). SunTrust shall within 28 calendar days from the date of issue of the interim certificate effect payment of the amount set out in the interim certificate as may be issued by Megawide on a monthly basis,” it said.
Suntrust said the Megawide was considered the most suitable tenderer as they have vast experiences as main contractor for various construction projects.
SunCity bought into Suntrust in October last year as part of its venture into the local gaming industry.