OTHERS CONTRACT BETWEEN IREKA ENGINEERING & CONSTRUCTION SDN BHD ("IECSB") AND REGENCY SPECIALIST HOSPITAL SDN BHD FOR THE DEVELOPMENT AT BANDAR BARU SERI ALAM, JOHOR BAHRU, JOHOR DARUL TAKZIM.
| IREKA CORPORATION BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | CONTRACT BETWEEN IREKA ENGINEERING & CONSTRUCTION SDN BHD ("IECSB") AND REGENCY SPECIALIST HOSPITAL SDN BHD FOR THE DEVELOPMENT AT BANDAR BARU SERI ALAM, JOHOR BAHRU, JOHOR DARUL TAKZIM. |
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The abbreviations and terms referred to in the announcements dated 29 June 2020 shall have the same meaning as defined in this announcement. Further to the announcement made on 29 June 2020, the Board of Directors of the Company wishes to announce that it was brought to the Company’s attention that IECSB has received a Determination Letter dated 21 December 2022 from the Employer with regards to the Contract, due to the non-completion and failure to rectify Section 1(A) 1(B) 1(C) and 1(D). As a result of the Determination Letter, the Contract was terminated and the Employer called for its Performance Bond. The termination does not result in any material adverse or favourable financial impact on Ireka Corporation Berhad Group as IECSB is currently under an Interim Judicial Manager as granted by the Kuala Lumpur High Court on 8 August 2022.
This announcement is dated 4 January 2023. |
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Announcement Info
| Company Name | IREKA CORPORATION BERHAD |
| Stock Name | IREKA |
| Date Announced | 04 Jan 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04012023-00019 |