OTHERS RESCISSION OF THE AWARD OF SUB-CONTRACT
| KUMPULAN JETSON BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | RESCISSION OF THE AWARD OF SUB-CONTRACT |
Reference is made to the Company’s announcement on 29 June 2017 relating to the acceptance by the wholly-owned subsidiary of the Company, Jetson Construction Sdn Bhd (“JCSB”) of a letter of award issued by MCC Overseas (M) Sdn Bhd (“MCC”) for sub-contract works. All capitalised terms used herein shall, unless otherwise defined herein, have the same meaning set out in the said announcement.
On 3 July 2017, JCSB received a letter from MCC wherein MCC purported to unilaterally rescind the award of the sub-contract relating to the Project on the basis that there was an alleged misrepresentation or non-disclosure of a certain matter namely that one of the substantial shareholders of Company is a director of a third party consultant to the employer of the Project.
The Company wishes to inform that MCC has not given an opportunity to JSCB to respond prior to the purported unilateral rescission and JCSB denies any misrepresentation or non-disclosure or wrongdoing giving rise to such rescission. JCSB believes that MCC has repudiated and wrongfully rescinded the said letter of award / sub-contract.
JCSB is seeking legal advice on this matter and will take appropriate action in due course.
This announcement is dated 4 July 2017.
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Announcement Info
| Company Name | KUMPULAN JETSON BERHAD |
| Stock Name | JETSON |
| Date Announced | 04 Jul 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-04072017-00019 |
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