TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ADDITIONAL ANNOUNCEMENT - JOINT VENTURE FOR THE PROPOSED TENDER PARTICIPATION FOR GEOSYNTHETIC ENGINEERING WORKS IN ASSAM, INDIA
MB WORLD GROUP BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
Description | ADDITIONAL ANNOUNCEMENT - JOINT VENTURE FOR THE PROPOSED TENDER PARTICIPATION FOR GEOSYNTHETIC ENGINEERING WORKS IN ASSAM, INDIA |
Reference is made to the announcement by MB World Group Berhad (“MBWORLD”) or (“the Company”) on 27 June 2016. For consistency purposes, the defined terms and abbreviations set out in the previous announcements shall apply herein unless otherwise defined herein. The Company wishes to announce that Emas Kiara Marketing Sdn Bhd (“EKM”) role and obligations in the EKM-RasWILL-PDA JV (“JV”) is the supply of Geo-mattress ex-factory from Malaysia. The settlement of the dispute between Water Resource Department, Assam, India and Bhartia Shivam JV involving the omission of some of the scope of works will result in an omission of supply of approximately 45,254 m2 of Geo-mattress from the remaining quantity of 374,725m2 to be supplied by the JV. The omission of approximately 45,254 m2 from the JV’s contract has no material financial impact on the MBWorld Group as the supply of Geo-mattress is within the ordinary course of business for EKM. |
Announcement Info
Company Name | MB WORLD GROUP BERHAD |
Stock Name | MBWORLD |
Date Announced | 30 Jun 2016 |
Category | General Announcement for PLC |
Reference Number | GA1-30062016-00084 |