In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.
KUALA LUMPUR: Vertice Bhd's unit, Vertice Construction Sdn Bhd, has accepted a sub-contract for the proposed Sungai Besi-Ulu Kelang Elevated Highway (SUKE) project worth RM339.85mil.
According to Vertice, the sub-contract offered by San Mutual Majujaya Sdn Bhd will be for Package CA1 – “Construction and Completion of Mainline and Other Associated Works from CH.0 to CH.2400”.
The sub-contract will be for a period of 19 months from the date of possession of the site.
"The sub-contract is expected to contribute positively towards the Group’s earnings and net tangible assets for the period of the sub-contract," the group said in a statement to the stock exchange.
At 5pm, Vertice was trading 6.5 sen or 7.78% higher at 90 sen a share on the back of 99,600 shares done.
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