MATERIAL LITIGATION Citaglobal Berhad ("CITAGLOBAL" or "the Company") - Notice of Adjudication under the Construction Industry Payment & Adjudication Act 2012 by WZS KenKeong Sdn. Bhd. - Laksana Amanbina Sdn. Bhd. JV ("Claimant") against IJM Construction Sdn. Bhd. ("Respondent") under Contract Reference Number: IJMC(PK)/WCE/SEC9/LA/015-001 ("the Contract")
| CITAGLOBAL BERHAD |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | Citaglobal Berhad ("CITAGLOBAL" or "the Company") - Notice of Adjudication under the Construction Industry Payment & Adjudication Act 2012 by WZS KenKeong Sdn. Bhd. - Laksana Amanbina Sdn. Bhd. JV ("Claimant") against IJM Construction Sdn. Bhd. ("Respondent") under Contract Reference Number: IJMC(PK)/WCE/SEC9/LA/015-001 ("the Contract") |
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Further to the Company's announcement made on 2 June 2023, the Board of Directors of CITAGLOBAL wishes to inform that based on the adjudication decision made by the Adjudicator on 7 November 2023, the Claimant’s entitlement claims for payment under Variation Order Claim No. 3 (VOC3) and Variation Order Claim No. 5 (VOC 5) against Respondent were dismissed (“Adjudication Decision”). The Adjudication Decisions will not have any material financial effect on the Citaglobal group of companies. This announcement is dated 8 November 2023. |
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Announcement Info
| Company Name | CITAGLOBAL BERHAD |
| Stock Name | CITAGLB |
| Date Announced | 08 Nov 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-08112023-00039 |