KUALA LUMPUR: FABER GROUP BHD []'s Abu Dhabi-based subsidiary has been notified that two of its contracts with an estimated value of RM184 million per annum have not been renewed.
It said on Wednesday, Jan 12 the first contract was to improve and maintain the facilities at Madinat Zayed - Zone-1 and the estimated value was RM129 million.
The contract involved the improvement, development, upgrading and maintenance of infrastructure facilities and projects at Madinat Zayed.
It said the notice, issued by the Department of Municipal Affairs, Abu Dhabi, about the non-renewal was only communicated to the company on Jan 10.
"The services of Faber Ltd Liability Co. (FLCC) for the aforesaid contract shall be deemed to cease with effect from June 1, 2011," it said.
Faber also said FLCC's contract to provide civil, mechanical and electrical maintenance services in Madinat Zayed and Liwa, with a combined annual contract price of RM55 million, had not been renewed.'' The services would cease from April 3, 2011.
Faber said the non-renewal of the contracts would affect its earnings'' and the net assets per share of about four sen for the financial year ending Dec 31, 2011.
It said on Wednesday, Jan 12 the first contract was to improve and maintain the facilities at Madinat Zayed - Zone-1 and the estimated value was RM129 million.
The contract involved the improvement, development, upgrading and maintenance of infrastructure facilities and projects at Madinat Zayed.
It said the notice, issued by the Department of Municipal Affairs, Abu Dhabi, about the non-renewal was only communicated to the company on Jan 10.
"The services of Faber Ltd Liability Co. (FLCC) for the aforesaid contract shall be deemed to cease with effect from June 1, 2011," it said.
Faber also said FLCC's contract to provide civil, mechanical and electrical maintenance services in Madinat Zayed and Liwa, with a combined annual contract price of RM55 million, had not been renewed.'' The services would cease from April 3, 2011.
Faber said the non-renewal of the contracts would affect its earnings'' and the net assets per share of about four sen for the financial year ending Dec 31, 2011.
No comments:
Post a Comment