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BusinessToday
7 days ago
- Business
- BusinessToday
Advancecon Unit Files RM10.17 Million Adjudication Claim Against CCC ECRL
Advancecon Holdings Berhad has announced a new development in its ongoing material litigation, with its wholly-owned subsidiary, Advancecon Infra Sdn Bhd , filing an adjudication claim of RM10.17 million against China Communications Construction (ECRL) Sdn Bhd. The Adjudication Claim was formally issued and served to CCC on August 5, 2025, under the Construction Industry Payment and Adjudication Act 2012 According to the company, a decision from the adjudicator is expected within the statutory timeframe of 45 working days from the close of pleadings. Advancecon has stated that it will provide further updates on any significant developments regarding the proceedings as they occur.
BusinessToday
7 days ago
- Business
- BusinessToday
Lotte Chemical Shrinks Losses To RM173 Million As Margins Improve
Lotte Chemical Titan narrowed its second-quarter loss to RM173 million, supported by improved margins despite ongoing challenges from high feedstock costs and weak petrochemical prices. In other developments, Advancecon Holdings' unit has filed a RM10.17 million adjudication claim against CCC-ECRL over unpaid works, while Infomina's subsidiary initiated a RM133 million lawsuit against a Philippine bank for outstanding sums. Meanwhile, Citaglobal is set to acquire a 12.8% stake worth RM40 million in a Perlis Maritime Corridor developer, signalling expansion in infrastructure ventures. On the corporate front, XOX Technology appointed Mohd Effendi as its new CEO to drive strategic growth, while Hong Seng Consolidated faces a trademark infringement lawsuit that could impact its branding operations. Read full stories here on MorningBytes: LOTTE Chemical Reports Narrowed Q2 Loss Of RM173 Million Infomina Subsidiary Files RM133 Million Lawsuit Against Philippine Bank Citaglobal To Acquire 12.8% Stake In Perlis Maritime Corridor Developer For RM40 Million XOX Technology Appoints Mohd Effendi As New CEO Hong Seng Consolidated Slapped With Trademark Infringement Lawsuit
