Shares of Advancecon (KLSE:ADVCON) closed 2% higher on Friday after its unit, Advancecon Infra, sued a subsidiary of China Communications Construction (HKG:1800, SHA:601800) for 10.2 million ringgit in alleged outstanding payments.
The payments are for completed works on the East Coast Rail Link Section 6 project, according to a Thursday Malaysian bourse filing.
Advancecon said its unit fulfilled all contractual obligations, but China Communications Construction failed to certify and remit the due amount.
The company does not expect a material financial or operational impact, it said.
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