Thursday, 12 January 2017

Jaycorp: late announcement? (2)

Jaycorp was queried by Bursa regarding the awarded contract and gave more details, one snippet:

1. The reason for the delay in making the announcement with regard to the award of the Project was because approvals from the relevant state authorities on the design of the Project were still pending after the letter of award was issued. The lack of these approvals would have materially affected the viability of the Project and the total contract sum resulting in the delayed announcement.

It seems the project started before the approvals were acquired, even before the contract was entered into:

4. The Project commenced on 15 June 2016 and the completion date is 14 June 2018.

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