Vizione's RM750m Gombak project terminated by mutual consent
The project involved building serviced apartments, shoplots, and a parking complex in Gombak, Selangor.
The contract, secured on May 30, 2024, was with a company linked to Vizione's MD Datuk Ng Aun Hooi and ED Bee Jian Ming, both indirect shareholders of Fields of Forest.
Vizione said the cancellation is not expected to materially impact near-term earnings or net assets.
Its shares closed 6.3% higher at 8.5 sen today, giving the company a market capitalisation of RM46.9 million. –TMR
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