Ireka initiates pre-commencement of arbitration against UEM Land

by TMR
Ireka Corp Bhd’s wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd, has initiated pre-commencement of arbitration against UEM Land Bhd in respect of the disputes and differences arising from the contract finalisation for the RM268.6 million contract to build a mixed development in Johor Bahru.
In an exchange filing dated June 18, 2012, Ireka noted the project will comprise a 35-storey serviced apartments block with a five-storey car park and recreational facilities and swimming pool, one block of 16-storey office tower with three-storey car parks, one block of single storey commercial block; and one level of car parks at basement.
“The contract period shall be 24 months, commencing on Aug 1, 2012, with completion date on July 31, 2014,” it previously noted.