GPlus units get notice for payment due

  • Business
  • Wednesday, 23 Jan 2008

KUALA LUMPUR: Two subsidiaries of Golden Plus Holdings Bhd (GPlus) have received notice from separate contractors for payment due. 

In separate filings with Bursa Malaysia yesterday, GPlus said Golden Plus Builders Sdn Bhd received a statutory notice from Sungai Lembing Construction & Development Sdn Bhd demanding payment of RM1.29mil being money due and owing to the latter as at Jan 22.  

The contractor demanded payment within 21 days of the date of the notice. 

“We are taking the necessary steps to resolve and/or defend this matter,” it said in a statement. 

Meanwhile, in a notice dated Jan 20, Shanghai MinHang District Construction Co Management Bureau, Office of MinHang District Construction Industry, had instructed GPlus unit Yanfull (Shanghai) Co Ltd to pay 70 million renminbi to Shanghai Bei Sheng Construction Development Co Ltd. The sum would be used to settle the workers' salary before Chinese New Year. 

GPlus said if both matters were left unresolved, there would be an adverse impact on the financial and operational status of the group, in particular Golden Plus Builders and Yanfull (Shanghai). 

In another statement, GPlus said Monday's court hearing for the application for an injunction to prevent its substantial shareholder Indian Corridor Sdn Bhd from holding an EGM in Penang on Jan 26 was adjourned to the day before the proposed EGM.  

 GPLUS :  [Stock Watch]  [News]

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

US says Vietnam's currency actions 'unreasonable' but holds off on tariffs
Top Glove reports Covid-19 outbreak at four factories
AmBank provides 6-month moratorium for flood victims
Principal Asset launches Next-G connectivity fund
CPO futures to trend lower on profit taking next week
WhatsApp to delay launch of update business features
US National Rifle Association files for bankruptcy
Oil drops over 2% on China lockdowns, U.S. stimulus concerns
Dollar finishes week stronger as US data hurts risk appetite
GLOBAL MARKETS-Data, lockdowns weigh on stocks

Stories You'll Enjoy