Ahmad Zaki served with RM12.46 mil arbitration notice
AZRB (7078) AHMAD ZAKI RESOURCES BHD
KUALA LUMPUR (Oct 21): Construction outfit Ahmad Zaki Resources Bhd (AZRB) said it has received a notice of arbitration from its sub-contractor Cobrain Holdings Sdn Bhd, which is seeking a full payment of the final claim totalling SAR14.37 million (RM12.46 million), arbitration cost and other reliefs for a project in Riyadh, Saudi Arabia.
AZRB said it has consulted its solicitors, who will defend the case on its behalf.
To recap, AZRB had appointed Cobrain to undertake the sub-contract work to supply, install, testing and commissioning of electrical high tension, low voltage and structure cabling services for the construction of phase 1 and phase 2 of the Al-Faisal University’s campus in Riyadh.
http://www.theedgemarkets.com/my/article/ahmad-zaki-served-rm1246-mil-arbitration-notice
AZRB (7078) AHMAD ZAKI RESOURCES BHD
KUALA LUMPUR (Oct 21): Construction outfit Ahmad Zaki Resources Bhd (AZRB) said it has received a notice of arbitration from its sub-contractor Cobrain Holdings Sdn Bhd, which is seeking a full payment of the final claim totalling SAR14.37 million (RM12.46 million), arbitration cost and other reliefs for a project in Riyadh, Saudi Arabia.
AZRB said it has consulted its solicitors, who will defend the case on its behalf.
To recap, AZRB had appointed Cobrain to undertake the sub-contract work to supply, install, testing and commissioning of electrical high tension, low voltage and structure cabling services for the construction of phase 1 and phase 2 of the Al-Faisal University’s campus in Riyadh.
http://www.theedgemarkets.com/my/article/ahmad-zaki-served-rm1246-mil-arbitration-notice
