WCT gets RM828mil as final settlement on Dubai contract

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.

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 yesterday, WCT said the sum was equivalent to 65% of the principal sum of RM1.31bil which the arbitral tribunal had awarded to WCT earlier.