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Faber unit receives summons and claim
by hlk Wed 14 Dec 2011, 07:44
KUALA LUMPUR: Faber Group Bhd’s subsidiary Faber Ltd Liability Company (Faber LLC)
had yesterday received a summons and statement of claim from United
Arab Emirates based Al Femah Contracting and Transporting Establishment
amounting to RM13.1mil.
In a statement to Bursa Malaysia, Al Femah named Faber LLC and Projek Penyelenggaraan Lebuhraya Bhd (Propel), a sub-contractor to Faber LLC, as defendants in the claim which was dated Dec 12, 2011.
Al
Femah is Propel’s sub-contractor for the contract to improve, develop,
upgrade and maintain infrastructure facilities and projects at Madinat
Zayed, zone 1, which had been awarded by the Department of Municipal
Affairs, Western Region Municipality, Emirate of Abu Dhabi.
Propel
had told Faber that the balance outstanding was RM5.75mil while it had
received another claim of RM7.3mil, which Propel is currently disputing.
“Pending
the outcome of the Al Dhafra Court’s decision, Faber is unable to
assess the financial and operational impact of the summons and statement
of claim on Faber. Al Femah has not specified the interest rates in the
summons and statement of claim,” it said.
had yesterday received a summons and statement of claim from United
Arab Emirates based Al Femah Contracting and Transporting Establishment
amounting to RM13.1mil.
In a statement to Bursa Malaysia, Al Femah named Faber LLC and Projek Penyelenggaraan Lebuhraya Bhd (Propel), a sub-contractor to Faber LLC, as defendants in the claim which was dated Dec 12, 2011.
Al
Femah is Propel’s sub-contractor for the contract to improve, develop,
upgrade and maintain infrastructure facilities and projects at Madinat
Zayed, zone 1, which had been awarded by the Department of Municipal
Affairs, Western Region Municipality, Emirate of Abu Dhabi.
Propel
had told Faber that the balance outstanding was RM5.75mil while it had
received another claim of RM7.3mil, which Propel is currently disputing.
“Pending
the outcome of the Al Dhafra Court’s decision, Faber is unable to
assess the financial and operational impact of the summons and statement
of claim on Faber. Al Femah has not specified the interest rates in the
summons and statement of claim,” it said.
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