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GuocoLand Limited ( (SG:F17) ) has issued an announcement.
GuocoLand (Malaysia) Berhad’s subsidiary, GLM Emerald Hills (Cheras) Sdn Bhd, is involved in an arbitration case with Barisan Performa Sdn Bhd over a terminated contract for site clearance and earthwork. The arbitration resulted in GLM Emerald Hills being directed to pay a substantial sum for work done and loss of profit due to alleged unlawful contract repudiation. The financial impact on the company is estimated at RM5,537,035.04, and they are consulting with solicitors on potential actions to set aside the award.
The most recent analyst rating on (SG:F17) stock is a Buy with a S$2.30 price target. To see the full list of analyst forecasts on GuocoLand Limited stock, see the SG:F17 Stock Forecast page.
More about GuocoLand Limited
GuocoLand (Malaysia) Berhad is a company involved in the real estate industry, focusing on property development and management.
Average Trading Volume: 52,652
Technical Sentiment Signal: Hold
Current Market Cap: S$1.6B
Learn more about F17 stock on TipRanks’ Stock Analysis page.