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PRTASCO

0.255

-0.005 (-1.9%)

OTHERS ADJUDICATION PROCEEDINGS BY HCM ENGINEERING SDN BHD AGAINST SOUTHKEY CITY SDN BHD

PROTASCO BERHAD

Type Announcement
Subject OTHERS
Description
ADJUDICATION PROCEEDINGS BY HCM ENGINEERING SDN BHD AGAINST SOUTHKEY CITY SDN BHD

Reference is made to the Company’s announcement on 21 February 2019 on the Notice of Adjudication pursuant to Section 8 of Construction Industry Payment Adjudication Act 2012 filed by HCM Engineering Sdn Bhd (“HCM”), a wholly owned subsidiary of the Company with the Asian International Arbitration Centre ("AIAC") Kuala Lumpur to commence adjudication proceedings against Southkey City Sdn Bhd ("SCSB") for the principal amount of RM10,423,964.55 (“Claim”).

 

The Company wishes to announce that HCM had received Adjudication Decision whereby SCSB shall pay to HCM a net amount of RM832,003.29 of which HCM had received the same on 17 June 2019.

 

The Company shall continue to pursue the remaining claim and will make necessary announcement on any material development on this matter in due course.






Announcement Info

Company Name PROTASCO BERHAD
Stock Name PRTASCO
Date Announced 18 Jun 2019
Category General Announcement for PLC
Reference Number GA1-18062019-00079