The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila
KUALA LUMPUR: Notion VTEC Bhd
has accepted from its insurer a full and final claim settlement of RM159.37mil for material fire losses in the incident that occurred at its main manufacturing plant in Klang, Selangor.
The group said in a stock exchange filing its wholly owned subsidiary Notion VTec Sdn Bhd has so far received a cumulative amount of RM80mil from AXA Affin General Insurance Bhd as partial settlement for the material fire loss.
The balance net settlement of RM79.37mil will be paid at a subsequent date.
"The settlement could be deployed for recovery of the production facilities affected by the fire incident and NVB will still retain its rights to any recovery from insurance proceeds for business interruption arising from the fire incident," said Notion VTec.
At 2.55pm, shares in Notion VTec were up five sen or 7.3% to 73.5 sen apiece on the back of 12.13 million shares done.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
