16 เมษายน 2540

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.