YFG terminates Kuantan PR1MA homes contract

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: Practice note 17 (PN17) affected issuer, YFG Bhd said it has terminated a RM127mil contract to build PR1MA homes in Kuantan, Pahang.

"The notice of termination was served to the developer Seri Ceka Sdn Bhd (SCSB) as the required contract was not formalised within the stipulated three-month time period, owing to the project funding issue on the part of SCSB," it said in a filing with Bursa Malaysia today.