IREKA 8834 IREKA CORPORATION BERHAD unit's RM163.9 mil hospital extension job terminated
KUALA LUMPUR (Jan 4): Ireka Corp Bhd said the RM163.9 million contract awarded to its unit Ireka Engineering & Construction Sdn Bhd (IECSB) back in end-June 2020 has been terminated.
According to a filing with Bursa Malaysia on Wednesday (Jan 4), the Practice Note 17 (PN17) company said the termination came as a result of a determination letter dated Dec 21, 2022, from Regency Specialist Hospital Sdn Bhd due to the ânon-completion and failure to rectifyâ certain clauses of the contract, specifically Section 1(A) 1(B) 1(C) and 1(D).
âAs a result of the determination letter, the contract was terminated and the employer (Regency Specialist Hospital) called for its performance bond,â the construction company added.
Ireka noted that the termination does not result in any adverse material or favourable financial impact on the company as IECSB is placed under an interim judicial manager as granted by the Kuala Lumpur High Court on Aug 8, 2022.
The contract awarded back in June 2020 was for the construction of a 10-storey hospital extension block in Johor, then carrying a value of RM163.9 million, according to a filing dated June 29, 2020.
Ireka in the filing said that the contract period was to run for 18 months, commencing from July 1, 2020, and to be completed on Dec 31, 2021. Â
Shares in Ireka Corp closed half a sen or 0.86% lower at 57.5 sen, giving the company a market capitalisation of RM130.98 million.
http://www.theedgemarkets.com/node/650481
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
What do I fear?21 hours ago
-
-
-
The Price Of A Thousand Yen23 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates2 days ago
-
-
-
-
-
-
-
-
-
Keyboarding Warriors3 days ago
-
-
-
-
Cory Diary : Portfolio updates4 days ago
-
-
-
Weekly Markets Outlook4 days ago
-
-
-
Portfolio Update5 days ago
-
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
-
2024 (Portfolio Update)2 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website4 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-