OTHERS RANHILL HOLDINGS BERHAD ("RANHILL" or "the Company")
| RANHILL HOLDINGS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | RANHILL HOLDINGS BERHAD ("RANHILL" or "the Company")
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On 15 August 2015 and 22 September 2015, our wholly-owned subsidiary, Ranhill Water Technologies Sdn Bhd (“RWT”) was awarded the contracts for the construction and supply of materials for the development of a 30 MLD water treatment plant, intake plant and pipeline by WRP Asia Pacific Sdn Bhd (“WRP”).
We wish to advise that on 20 March 2017, RWT received a letter from Messrs. Sharif & Khoo, representing WRP requiring RWT to commence work within 14 days from RWT's receipt of the said letter, failing which, WRP will commence action to claim for damages and loss. RWT had, on numerous occasions expressed its position in terminating the contracts due to long delay and failure by WRP in obtaining necessary approvals from relevant authorities for the proposed development in particular “Kebenaran Merancang” thus rendering the contracts void under the law.
As at the date of this announcement, we are unable to ascertain the actual damages and loss that may be claimed against RWT as it is disputing the allegations of breach of contracts. RWT has engaged a legal firm to advise and represent RWT on the matter.
Our external counsel is of the view that the allegations of breach of contract by RWT is without merit and consequently the claim for damages is baseless.
Save for Loong Mei Yin who is also a director of WRP, none of the Directors, major shareholders and persons connected with the Directors and major shareholders of Ranhill Holdings Berhad has any interest, direct or indirect, in the above matter.
This announcement is dated 21 March 2017.
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Announcement Info
| Company Name | RANHILL HOLDINGS BERHAD |
| Stock Name | RANHILL |
| Date Announced | 21 Mar 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21032017-00057 |
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