Anchor Resources in the clear after KL court decides in favour of its JV

MINER Anchor Resources announced on Monday after trading hours that the Kuala Lumpur High Court decided in favour of its joint venture company GGTMECOJV in relation to a contractor's progress claim dispute against it, and that the adjudication decision was successfully set aside.

In the same vein, the corresponding application to enforce the said adjudication decision filed by Eco Group International Sdn Bhd was dismissed by the Kuala Lumpur High Court judge. No costs were awarded against both parties.

As a result of the decisions, there are no pending suits against GGTM and no liabilities against GGTM, said Anchor Resources.

Anchor Resources' shares ended at 1.5 Singapore cents at the end of trading on Monday, up 0.4 Singapore cents.