YFG (7122) - YFG's RM255.9m contract in Sabah has been terminated by Palikota S/B
27 Nov 2014, 10:43 AM
YFG Bhd's RM255.9m contract for the commercial and 27-storey waterfront condominium property project in Sabah has been terminated by Palikota Sdn Bhd. The company, in a filing with Bursa Malaysia yesterday, said its unit YFG Trolka Sdn Bhd had received a notice from Palikota on Nov 19 informing it that the contract, awarded on Aug 1, 2013, had been terminated.
The contract was for the construction of Jesselton Residences Waterfront along Jalan Haji Saman in Kota Kinabalu. YFG also said Palikota had on the same day served a separate notice to YFG Trolka's banker, United Overseas Bank (M) Bhd to call upon a performance bond of RM12.7m. Palikota is a unit of Jesselton Waterfront Holdings Sdn Bhd. The project consists of four levels of premium mall, five levels of carpark and three blocks of 20-storey super condominium at the shore front of the central business district in Kota Kinabalu. (StarBiz)
Source: CIMB Daybreak - 27 November 2014
27 Nov 2014, 10:43 AM
YFG Bhd's RM255.9m contract for the commercial and 27-storey waterfront condominium property project in Sabah has been terminated by Palikota Sdn Bhd. The company, in a filing with Bursa Malaysia yesterday, said its unit YFG Trolka Sdn Bhd had received a notice from Palikota on Nov 19 informing it that the contract, awarded on Aug 1, 2013, had been terminated.
The contract was for the construction of Jesselton Residences Waterfront along Jalan Haji Saman in Kota Kinabalu. YFG also said Palikota had on the same day served a separate notice to YFG Trolka's banker, United Overseas Bank (M) Bhd to call upon a performance bond of RM12.7m. Palikota is a unit of Jesselton Waterfront Holdings Sdn Bhd. The project consists of four levels of premium mall, five levels of carpark and three blocks of 20-storey super condominium at the shore front of the central business district in Kota Kinabalu. (StarBiz)
Source: CIMB Daybreak - 27 November 2014
