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 |