PN17 firm Ireka wins subcontract to build Penang health clinic
The job, awarded by ANS Development Sdn Bhd, commenced on Nov 10 and is scheduled for completion on Aug 21, 2028.
Ireka ropes in China-based firm for recapitalisation plan in bid to exit PN17 status
The recapitalisation also includes a proposed asset injection involving selected property-related assets valued at up to RM50 million, to be acquired by Ireka at a "mutually agreed discounted valuation based on an independent assessment".
Ireka to be suspended on Oct 3, risks delisting after extension bid for regularisation plan rejected
In a filing on Thursday, the Practice Note 17 (PN17) company said it also faces delisting on Oct 7 unless an appeal is lodged with the bourse regulator before Oct 2.
Ireka Corp defaults on RM1.04m loan repayments to Hong Leong Bank, AmBank
Ireka said the default relates to financing facilities originally granted to its former wholly owned subsidiary, Ireka Engineering & Construction Sdn Bhd, which has since been wound up.
Ireka unit faces claim over decade-old Mont’Kiara apartment project
The property developer said its wholly-owned unit United Time Development Sdn Bhd is being sued by Kejuruteraan Berpadu Maju Sdn Bhd.
Ireka says in early talks on plan to fix PN17 status, in reply to query on sharp rise in share price
On Wednesday, Ireka received an UMA query following a sharp rise in its share price and volume.
Ireka faces RM1.07b contract termination over Pan Borneo Highway project
The termination proposal was triggered by the lapse of a project operation agreement between main contractor MTD Construction Sdn Bhd and Sabah-based Gammerlite, which was terminated on June 30 due to Gammerlite’s failure to secure the necessary funding.
Ireka Corp’s auditor expresses disclaimer of opinion on FY2024 financial statement
Ireka had in February 2022 triggered the PN17 criteria, as the shareholders' equity of the group was 50% or less than its share capital.
Ireka ordered to pay RM6.53m plus costs to RHB Bank over subsidiary's payment default
"Following several discussions with the bank, the company is currently in the midst of negotiation with the bank to honour the court order," Ireka added.
EPF initiates legal action against Ireka unit over unpaid contributions
"IDTSB is currently negotiating a settlement plan with EPF to resolve the amount claimed under the writ," it said.
