SET Announcements
16 April 1997
SCRAPS CONSTRUCTION CONTRACT OF BAAN SAN SARA
Sansiri Plc. (SIRI) said its board of directors resolved at the
meeting no. 2/1997 held on April 11, 1997 to terminate the contract worth
Bt535 million to construct Baan San Saran Project it has made with Thai
Gammon Co., Ltd. and Gammon Construction (Thailand) Co., Ltd.
SIRI gave a reason for the contract scrap, saying that Thai Gammon Co.,
Ltd. and Gammon Construction (Thailand) Co., Ltd. have broken the
agreement as the construction could not be completed within the due date
stated in the contract as November 9, 1996. The works have delayed for
153 days to date. The company considered that the two contract partners
were not capable of finishing the job.