KUALA LUMPUR: Ekovest Bhd, which was one of the most actively traded stock today, has clarified that its contractual obligations as the project delivery partner (PDP) for the River of Life (ROL) project were officially concluded in January 2015.
Since then, it said the company has not held any active PDP role related to the project.
In its filing with Bursa Malaysia Securities, Ekovest said the company has written to the Edge to clarify an article entitled "Ekovest may be dropped as River of Life PDP" and the role of Ekovest as the PDP for the project."
The stock reached a day's low of 49 sen before rebounding to 52 sen a share at 3pm. Some 118.3 million shares changed hands.
"For information of shareholders, Ekovest was appointed as the PDP of the ROL project to the government in 2012 and our contractual role was officially concluded in January 2015," it said.
Initially appointed by the government in 2012, Ekovest's responsibilities as the PDP primarily involved horizontal coordination among up to 42 agencies.
The company facilitated the project's development while various ministries spearheaded its execution.
Under the PDP contract, Ekovest said it was authorised solely for tendering and participation in beautification works within the ROL Project through a Swiss Challenge mechanism.
"Ekovest has fully discharged all of its duties as the PDP to the government for the ROL Project on January 3, 2015," it added.
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