MUR - Murray & Roberts Holdings Limited - Middle East Order Book
MUR
MUR
MUR - Murray & Roberts Holdings Limited - Middle East Order Book
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN Code: ZAE000073441
("Murray & Roberts" or "Group")
MIDDLE EAST ORDER BOOK
Shareholders are advised that the Group has today received formal notification
that the joint venture contract to construct the Tameer Towers project in Abu
Dhabi has been terminated, subject to contract. This means that costs associated
with work done to date will be recovered as stipulated. The Group has previously
cautioned on volatility in the Middle East market as a result of the global
financial crisis and in particular, the alliance nature of the contracting
arrangement on the Tameer Towers project.
The Group`s 33% share of this contract is about R5,0 billion, of which about R90
million relates to the remainder of the current financial year.
This event, while disappointing, will not have a material impact on the Group`s
performance for the financial year to 30 June 2009. Current and future
opportunities already identified in the region hold the potential to replace the
forward order book.
This announcement has not been reviewed or reported on by the Group`s auditors.
Bedfordview
25 March 2009
Sponsor:
Deutsche Securities (SA) (Pty) Ltd
Date: 25/03/2009 14:10:02 Produced by the JSE SENS Department.
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