KUALA LUMPUR (Oct 5): Anzo Holdings Bhd’s RM153 million construction contract in Melaka has been terminated, citing “financial challenges” as reason.
Anzo said the contract involved turnkey design, approval, build and delivery of 120 units of service suites, 24 units of SPA villas, basement consisting of 670 car park bays, 135 motorcycle parking bays and ancillary services, external facilities and services including roadways, sewerage, water reticulation, river embankment and riverfront boardway and landscape being part of the Porto De Melaka Hotel and Resort Development in Melaka.
In a bourse filing yesterday, Anzo said it has entered into a mutual termination agreement with Tinta Anggun Engineering Sdn Bhd for the termination.
Anzo, formerly known as Harvest Court Industries Bhd, was awarded the contract from Tinta Anggun in October 2015.
Anzo shares closed down 0.5 sen or 16% at 2.5 sen yesterday, bringing it a market capitalisation of RM22 million.