Jetson’s contract joy short-lived

Group managing director Datuk Teh Kian An(filepic), who is the largest shareholder in the company, has an 11.8% stake or 23.84 million shares, followed by Next Peak Assets Ltd which holds 9.16%, and Phoa Boon Ting at 8.97%

PETALING JAYA: Kumpulan Jetson Bhd’s joy of winning a construction contract worth almost RM1bil – manifold its market capitalisation – has been short-lived.

Just five days after announcing the massive contract, the company said the job had been unilaterally terminated by the company that had awarded the work.