WCT gets RM828m as final settlement over Dubai contract

The amount is larger than WCT’s current market capitalisation of RM730.35mil based on the share price of 51.5 sen.

KUALA LUMPUR: WCT Holdings Bhd has agreed to a final settlement of RM828.24mil with Meydan Group LLC over the cancelled Nad Al Sheba Dubai racecourse contract.

In a filing with Bursa Malaysia on Wednesday, WCT said the sum was equivalent to 65% of the principal sum of RM1.31bil which the arbitral tribunal had awarded to WCT earlier.