Protasco ordered to pay RM2.96m to subcontractor

PETALING JAYA: Protasco Bhd's wholly owned subsidiary HCM Engineering Sdn Bhd has been ordered to pay RM2.96 million to Kuasatek (M) Sdn Bhd in relation to a dispute arising from a mechanical and electrical contract.
Protasco told Bursa Malaysia that HCM had received an adjudication decision pursuant to Section 8 of Construction Industry Payment Adjudication Act 2012 served by Kuasatek whereby the sum has to be paid within 14 days.

"HCM shall seek advice from its firm of solicitors on the adjudication decision and will make further announcements on any material development on this matter in due course."
Kuasatek was appointed by HCM in March 2016 as the subcontractor to undertake the mechanical and electrical works for a four-storey building in Bukit Jalil for the Asian Football Confederation.
Protasco's share price gained 1.1% to close at 46.5 sen on 333,700 shares done.