KUALA LUMPUR: Eversendai Corp Bhd
shares tumbled 23% after its Trojena Ski Village contract in Saudi Arabia was terminated amid escalating Middle-East tensions.
The stock closed at 27.5 sen yesterday, bringing its year-to-date decline to about 35%. It was also among the most actively traded stocks on Bursa Malaysia, with 33.8 million shares changing hands.
Eversendai announced that its structural steel contract for the Neom Trojena Ski Village has been terminated.
“Until the date of the notice (March 26, 2026), Eversendai had fully committed and delivered the project as per the contractual obligations with no compromise to safety and quality and we believe this has happened due to the current geopolitical situation in the Middle East,” it said.
It is preparing the documentation to substantiate the project’s progress up to the termination date, including commercial claims and related demobilisation costs to be compensated by the client.
