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Author: value_investor   |   Latest post: Wed, 28 Jan 10:44


Zelan: RM771m project runs into trouble

Author: value_investor   |   Publish date: Fri, 23 Nov 09:35   |  >> Read article in Blog website

Zelan Bhd's Meena Plaza Project in Abu Dhabi, United Arab Emirates, has run into trouble following project owner Meena Holdings LLC's decision to terminate the contract. Zelan told Bursa Malaysia that its wholly owned subsidiary Zelan Holdings (M) Sdn Bhd's Abu Dhabi branch received a letter dated 21 Nov 2012 from Meena Holdings LLC which gave a 14-day notice to terminate the contract and to liquidate the performance bond. (StarBiz) 

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