KUALA LUMPUR: Eversendai Corp Bhd
’s subsidiary Eversendai Constructions (M) Sdn Bhd (ECMSB) has terminated a memorandum of understanding (MoU) for a strategic tie-up with facade specialist contractor Puspajaya Aluminium Sdn Bhd (PASB).
In a filing with Bursa Malaysia, the structural design and steel erection specialist said the 69%-owned subsidiary had on Dec 22, 2015, signed an MoU with PASB, which supplies, fabricates abd installs facade and aluminium products, for the purpose of working together to submit tenders.
The MoU had a 12-month validity period but could be rendered null and void earlier if a tender was to be awarded to another company without the usage of PASB’s design.
“The MoU has been terminated, effective Sept 28 as there is no material development pertaining to the MoU,” Eversendai said.
It said its board of directors considered that the termination would have no material effect on the business operation and financial position of Eversendai and ECMSB.
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