MATERIAL LITIGATION

Reference Number GA1-19082019-00044

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 19 AUG 2019
WZ SATU BERHAD

MATERIAL LITIGATION WZ Satu Berhad (“the Company” or “WZ Satu”) – Notice of Adjudication under the Construction Industry Payment & Adjudication Act 2012 by WZS Misi Setia Sdn. Bhd. against Petrofac E&C Sdn. Bhd.

 

 

Type Announcement
Subject MATERIAL LITIGATION
Description WZ Satu Berhad (“the Company” or “WZ Satu”) – Notice of Adjudication under the Construction Industry Payment & Adjudication Act 2012 by WZS Misi Setia Sdn. Bhd. against Petrofac E&C Sdn. Bhd.
(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the previous announcement dated 4 March 2019).

Further to the Company’s announcement made on 4 March 2019, the Company wishes to announce that WZS Misi Setia Sdn. Bhd. (“WZS Misi Setia”) had on 19 August 2019 received the Adjudication Decision issued by the sole Adjudicator.

The defendant, Petrofac E&C Sdn. Bhd. (“PECSB”) shall pay WZS Misi Setia the total sum of RM2,050,300.00 inclusive of RM50,300.00, being the cost and portion of the Adjudicator’s fees and the administrative fees in relation to the abovesaid Adjudication claims.

WZS Misi Setia will continue to pursue the remaining claims from PECSB.

This announcement is dated 19 August 2019.