OTHERS TCS GROUP HOLDINGS BERHAD ("TCS" OR "THE COMPANY") - MUTUAL TERMINATION OF LETTERS OF AWARD ENTERED BETWEEN TCS INFRA SDN BHD ("TCSI") AND KEB BUILDERS SDN BHD ("KEBB")
| TCS GROUP HOLDINGS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | TCS GROUP HOLDINGS BERHAD ("TCS" OR "THE COMPANY")
- MUTUAL TERMINATION OF LETTERS OF AWARD ENTERED BETWEEN TCS INFRA SDN BHD ("TCSI") AND KEB BUILDERS SDN BHD ("KEBB") |
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Reference is made to the Company’s announcement dated 9 April 2021.
The Board of Directors (“the Board”) of TCS wishes to announce that TCSI and KEBB (collectively referred as “the Parties”) had mutually agreed to terminate the Letter of Award (“LA”) entered between the Parties in relation to the infrastructure project for part of Section 7of the West Coast Expressway with immediate effect.
The Board is of the view that, the termination of LA will not have any material effect on the earnings of the Company and net assets of the Group for the financial year ending 31 December 2022.
Having considered all aspects, the Board is of the opinion that the termination is in the best interest of the Company.
This announcement is dated 30 August 2022. |
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Announcement Info
| Company Name | TCS GROUP HOLDINGS BERHAD |
| Stock Name | TCS |
| Date Announced | 30 Aug 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-30082022-00069 |