Reference is made to the News Article on the online portal of The Edge Markets dated 23 December 2019 titled “ASM Development countersues Econpile for almost RM346m” (“the Article”) related to the Contract for Foundation and Substructure Works of a Mixed Development comprising of a 7-Block Serviced Apartments, Retail and Car Park at Lot 35190, Mukim Petaling, Kuala Lumpur. The Board of Directors of Econpile Holdings Berhad wishes to clarify the statements and allegations made in the Article.
Details of the full announcement is attached.
This announcement is dated 23 December 2019.