Transcorp to terminate Dongshan project with The Project Company

Transcorp Holdings also requested for the full refund of $6m.

Transcorp Holdings is looking to terminate the Memorandum of Understanding (MOU) with the Project Company relating to the proposed project in Dongshan.

Transcorp Holdings also requested for the full refund of $6m by 31 March, but haven’t received the said funds.

Meanwhile, The Project Company wrote to the firm saying that they have engaged a lawyer to provide a response to Transcorp Holdings.

“The Board however has decided to decline the invitation and will persist with its decision to terminate the MOU and will now proceed to issue a letter of demand,” Transcorp Holdings said in an announcement.

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