Friday 29 Mar 2024
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KUALA LUMPUR (Jan 16): Vertice Bhd, formerly known as Voir Holdings Bhd, has denied it is involved in the Penang Mega Infrastructure Project, aside from its recent investment of 13.21% in Consortium Zenith Construction Sdn Bhd.

The group clarified it had in the fourth quarter of 2016 ventured into construction activities via its wholly-owned subsidiary Vertice Construction Sdn Bhd to diversify its income streams.

“The group’s multiple proposals were 100% approved by shareholders on Nov 22, 2017,” Vertice highlighted in a statement today, referring to its subscription of the stake in Consortium Zenith, which was awarded the RM6.3 billion Penang Mega Infrastructure Project in 2013.

The group maintained that fashion is one of its core businesses, an industry in which it has had a domestic presence in, for the past 30 years.

Earlier today, Penang chief minister Lim Guan Eng was reported as saying Vertice is only an investor in the Penang undersea tunnel project, and that this did not mean it would be involved in the building process.

In a statement, Lim said the project had been awarded via an open competitive tender, and there was therefore “nothing to hide nor fear”.

Vertice's involvement in the undersea tunnel project has been questioned by Minister in the Prime Minister's Department, Wee Ka Siong.

At midday break today, Vertice fell 4.21% or 4 sen to 91 sen, with 655,600 shares traded. 

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