ID :
201424
Mon, 08/15/2011 - 17:51
Auther :
Shortlink :
https://oananews.org//node/201424
The shortlink copeid
MALAYSIAN COMPANY TERMINATES CONTRACT WITH LIBYA'S HIB
KUALA LUMPUR, Aug 15 (Bernama) -- Malaysian company Ranhill Bhd said its subsidiary, Amona Ranhill Consortium Sdn Bhd (ARC) has served a notice of termination of a contract with Libya's Housing Infrastructure Board (HIB).
The notice was to terminate the General Works Contract for the design, build and handover of 10,680 housing units in Tajura, Libya as a result of the social and political unrest which started in Libya in February.
As a consequence, Ranhill evacuated its workforce out of Libya and suspended work on the project, it said in a filing to Bursa Malaysia Monday.
It said with the continuous unrest in Libya, the company had not been able to ascertain the financial impact of the termination with certainty.
The notice was to terminate the General Works Contract for the design, build and handover of 10,680 housing units in Tajura, Libya as a result of the social and political unrest which started in Libya in February.
As a consequence, Ranhill evacuated its workforce out of Libya and suspended work on the project, it said in a filing to Bursa Malaysia Monday.
It said with the continuous unrest in Libya, the company had not been able to ascertain the financial impact of the termination with certainty.
