OTHERS VERTICE BERHAD ("VERTICE" OR "THE COMPANY") MUTUAL TERMINATION OF THE ACCEPTANCE OF THE AWARD OF CONTRACT FOR THE CONSTRUCTION OF A BY-PASS FROM BANDAR BARU AYER ITAM CONNECTING TO LEBUHRAYA TUN DR. LIM CHONG EU (I.E., PACKAGE 2 PROJECT OF THE PENANG MEGA INFRASTRUCTURE PROJECT FOR A FIXED CONTRACT SUM OF RM815.00 MILLION

VERTICE BERHAD

Type Announcement
Subject OTHERS
Description 
VERTICE BERHAD ("VERTICE" OR "THE COMPANY")
MUTUAL TERMINATION OF THE ACCEPTANCE OF THE AWARD OF CONTRACT FOR THE CONSTRUCTION OF A BY-PASS FROM BANDAR BARU AYER ITAM CONNECTING TO LEBUHRAYA TUN DR. LIM CHONG EU (I.E., PACKAGE 2 PROJECT OF THE PENANG MEGA INFRASTRUCTURE PROJECT FOR A FIXED CONTRACT SUM OF RM815.00 MILLION

(Unless otherwise stated, the abbreviations used herein shall be consistent with the circular to shareholders of Vertice dated 6 March 2019 (“Circular”) unless otherwise stated.)


The Board of Directors of Vertice wishes to announce that Buildmarque Construction (a 50%-owned subsidiary of Vertice Construction Sdn Bhd (“Vertice Construction”)), Vertice Construction (a 100%-owned subsidiary of Vertice) and Consortium Zenith have on 29 December 2021 entered into a deed of rescission and termination to mutually agree to terminate the award of contract pursuant to the letter of award dated 30 August 2018 and the supplemental letter of award dated 31 January 2019 in relation to the award of contract (“Mutual Termination”).

Please refer to the attached document for further details on the Mutual Termination.

This announcement is dated 29 December 2021.



Announcement Info

Company Name VERTICE BERHAD
Stock Name VERTICE
Date Announced 29 Dec 2021
Category General Announcement for PLC
Reference Number GA1-23092021-00011


Please refer attachment below.

  1. MUTUAL TERMINATION ANNOUNCEMENT.pdf