WCT sued for RM214.12 million over Doha job

PETALING JAYA: WCT Holdings Bhd's Middle East regional office in Doha, Qatar is being sued for QAR181.57 million (RM214.12 million), being the for alleged sum due under its subcontract and unquantified sums for legal costs, arbitration costs, and charges.
The group told Bursa Malaysia, its Qatar office had on July 8 received from the Court of Arbitration of the International Chamber of Commerce (ICC) a Request for Arbitration dated June 22, filed by Trans Gulf International Electro-Mechanical WLL, Powermech Engineering WLL and Trans Gulf International Electro-Mechanical WLL – Powermech Engineering WLL JV, naming its wholly owned subsidiary WCT Bhd (WCTB) as the respondent.
The claimants were WCTB's subcontractors for mechanical, electrical and plumbing related works for the Ministry of Interior Head Quarters Project in Doha, Qatar.
WCT said it will take the necessary legal actions to defend and oppose the claims.
The stock closed one sen lower at RM2.09 on some 93,300 shares traded, with a market capitalisation of RM2.95 billion.