WCT’s licence for Viet project revoked
28 Feb 2014 / 05:38 H.
PETALING JAYA (Feb 28, 2014): WCT Holdings Bhd's licence to undertake the proposed Platinum Plaza Development project located in Binh Chanh district, Ho Chi Minh City has been revoked.
WCT told Bursa Malaysia in a filing yesterday that on Feb 26, 2014 it had received a decision letter from the Ho Chi Minh City People's committee that the Investment Certificate (which also acts as business license) dated Dec 18 2007 granted to BSC-WCT Co., Ltd, an indirect 67%-owned subsidiary of WCT, has bene revoked.
The group said following the decision it will cease to proceed with the Platinum Plaza project which has yet to commence and proceed with the liquidation process of the subsidiary.