Vizione's RM750m Gombak project terminated by mutual consent
VIZIONE Holdings Bhd said that a RM750 million construction contract awarded by related party Fields of Forest Sdn Bhd has been mutually terminated with immediate effect, without disclosing specific reasons.
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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
5 days ago
- New Straits Times
News@9: Today's top headlines - June 3, 2025
Here are today's biggest stories. Assets frozen MACC has obtained a court order to freeze more than RM750 million in assets belonging to Toh Puan Na'imah Abdul Khalid in London, potentially linked to offences under the Anti-Money Laundering Act 2001. The Petroleum Dealers Association of Malaysia has called for the postponement of the RON95 subsidy rationalisation until two critical issues are resolved. Journalists should serve as a bridge to help the public understand the ethical implications and appropriateness of using emerging technologies, particularly artificial intelligence. The MCMC will work closely with Datuk Seri Azalina Othman Said on a proposal to make it mandatory for parents to monitor their children's online activities. That's it for News@9.
New Straits Times
28-05-2025
- New Straits Times
Retired engineer loses over RM200,000 to investment scam
SIBU: A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. "Later, he received further explanation via WhatsApp from someone claiming to be a company representative. "If the victim agreed, he was required to download the KKR Investment app for registration purposes. "He was also informed that all accumulated profits could be viewed through the app," he said in a statement. Between April 9 and May 7, the victim made 11 money transfers totalling RM224,403 to four different local bank accounts. He then contacted the representative again when the investment app showed his profits had reached RM750,000. Zulkipli said that when the victim was asked to make an additional payment of RM100,700 as a tax to withdraw the funds, he began to suspect he was being scammed and subsequently filed a police report in Sibu on Tuesday. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli advised the public to exercise caution and not be easily tempted by offers of high returns through online investment schemes. – Bernama
The Sun
28-05-2025
- The Sun
Retired engineer loses over RM200,000 to investment scam
SIBU: A retired private-sector engineer from here lost RM224,403 in a month after falling victim to an online investment scam that falsely promised lucrative returns of up to RM750,000. Sibu police chief ACP Zulkipli Suhaili said the victim, a man in his 60s, only realised he had been scammed when he was asked to pay an additional RM100,700 as 'tax' to withdraw the supposed investment profits, which did not exist. He said the victim was initially drawn to the so-called investment offer, promoted as the 'Investment Stock Market' by a company named KKR Investment on Instagram on April 9. Later, he received further explanation via WhatsApp from someone claiming to be a company representative. 'If the victim agreed, he was required to download the KKR Investment app for registration purposes. He was also informed that all accumulated profits could be viewed through the app,' he said in a statement. Between April 9 and May 7, the victim made 11 money transfers totalling RM224,403 to four different local bank accounts. He then contacted the representative again when the investment app showed his profits had reached RM750,000. Zulkipli said that when the victim was asked to make an additional payment of RM100,700 as a tax to withdraw the funds, he began to suspect he was being scammed and subsequently filed a police report in Sibu on Tuesday. The case is being investigated under Section 420 of the Penal Code for cheating. Zulkipli advised the public to exercise caution and not be easily tempted by offers of high returns through online investment schemes.
