TRC Synergy files suit to recover RM38m from Brunei body over airport project

TRC Synergy files suit to recover RM38m from Brunei body over airport project
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KUALA LUMPUR (March 19): TRC Synergy Bhd's subsidiary and another firm are jointly suing the Brunei Economic Development Board for B$13 million (RM38.23 million) with regard to an airport project.

In a filing with Bursa Malaysia today, TRC said its wholly-owned unit Trans Resources Corp Sdn Bhd and Swee Sdn Bhd initiated the suit in the High Court of Brunei to recover the amount in relation to the modernisation of the Brunei International Airport Terminal.

"The legal proceeding will not have any operational impact on the company's operation as the project was duly completed and handed over in 2015. Further announcements to Bursa Malaysia Securities Bhd on any material development on the legal proceeding will be made in due course," it added.

TRC shares closed down half sen or 0.77% at 64.5 sen today for a market capitalisation of RM312.32 million.