WCT may distribute part of RM1.2bil awarded by Dubai tribunal

One of WCT projects: An artist's impression of WCT's Rumah Selangorku homes at Bandar Parklands

PETALING JAYA: Builder-cum-property developer WCT Holdings Bhd could reward its shareholders and pare down borrowings with the nearly RM1.2bil claims it was awarded by a Dubai tribunal over a long-standing contract dispute with Meydan Group LLC.

“Although its management has yet to decide what to do with the claims award, we believe WCT could utilise the money to pare down some borrowings, declare a special dividend and fund landbanking capital expenditure (capex),” said Kenanga Research in a report.