Ireka Corp initiates pre-commencement arbitration against UEM Land

PETALING JAYA: Ireka Corp Bhd's wholly-owned subsidiary Ireka Engineering & Construction Sdn Bhd has initiated a pre-commencement arbitration against UEM Land Bhd in relation to a mixed development in Johor Bahru.
The group told the stock exchange, that the move was in respect of the disputes and differences arising from the contract finalisation for the contract dated April 3, 2014 on the construction of a proposed mixed development in Johor Bahru.
Ireka will make a further announcement as and when further material developments arises.
Its share price was unchanged at 60.5 sen with 1,000 shares done.