Latest news with #VizioneHoldingsBhd
New Straits Times
2 days ago
- Business
- New Straits Times
Vizione, Permaju Property mutually agree to terminate RM490mil deal
KUALA LUMPUR: Vizione Holdings Bhd has mutually agreed with Permaju Property Sdn Bhd to terminate a previously accepted letter of award (LOA) worth RM490 million effective immediately. In a filing with Bursa Malaysia today, Vizione said the decision came after Permaju opted to re-submit the project's development plans to authorities, prompting both parties to reassess the project's commercial viability. "No work under the LOA had commenced and the company did not incur any material cost since its acceptance on Dec 7, 2023," the company noted. It added that the termination will not have any material impact on its earnings per share or net assets per share. Its shares fell 6.67 per cent or half a sen to seven sen from the previous closing price of 7.5 sen, bringing its market capitalisation to RM36 million.
New Straits Times
30-04-2025
- Business
- New Straits Times
Vizione, related party mutually terminate RM750mil construction contract
KUALA LUMPUR: Vizione Holdings Bhd has announced the termination of a RM750 million construction contract awarded by Fields of Forest Sdn Bhd, a related party, almost a year after securing the job. In a filing with Bursa Malaysia, Vizione did not provide a reason for the termination but said that it was mutual. "The board of directors of Vizione wishes to inform that both parties had on April 29, agreed to mutually terminate the letter of award with immediate effect," it said. The group added that the termination will not have any material impact on its consolidated earnings per share or net assets per share in the near term. The contract, announced in May 2024, involved main construction works for Phases 2 and 3 of a mixed development project in Gombak, Selangor. Vizione previously disclosed that the job constituted a related-party transaction, which had yet to be mandated. It said managing director Datuk Ng Aun Hooi and executive director Bee Jian Ming owned 5.28 per cent were indirect shareholders of Fields of Forest.
